It depends. You will need to gather the information on all of the crypto you purchased, including the date, amount you paid (cost) and the date and amount you sold it for (proceeds) and compare that information to what is on the Form 1099-DA that you received. If you invested more than you gained, it could mean you have a loss, not a gain. It is important to know the total value of your portfolio and your cost basis because you should pay tax only on the gain. First, enter the Form 1099-B exactly as it appears To enter your Form 1099-DA in TurboTax, do the following: Click on IncomeSelect Add more incomeScroll down to Investments and Savings and click down arrowSelect Stock, Crypto...(1099-DA...)Select Add investments, Enter a different way, then choose how you want to add your document, or Type it in myselfSelect Digital Assets (1099-DA)Enter brokerage information, then ContinueIn the "Tell us about the sales..." section, answer those questions, then ContinueIn the "Now choose how to enter your sales", select Sales section totals if you have a lot of transactions, or One by one, ContinueCrucial: To adjust the basis, click on the box below the sales section, I need to adjust my total cost basis. (This is where you make changes based on your personal records of your actual cost, versus what is showing on your 1099-DA)

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athman606

Level 1

Question

I converted some ethereum to bitcoin in 2025 ...do I need to pay tax on the gain showing on my 1099 da?

Forum|Forum|3 months ago
April 15, 2026
1 reply
29 views

No text available

TurboTax Online

ReneV4

Level 6

It depends. You will need to gather the information on all of the crypto you purchased, including the date, amount you paid (cost) and the date and amount you sold it for (proceeds) and compare that information to what is on the Form 1099-DA that you received.

If you invested more than you gained, it could mean you have a loss, not a gain. It is important to know the total value of your portfolio and your cost basis because you should pay tax only on the gain.

First, enter the Form 1099-B exactly as it appears

To enter your Form 1099-DA in TurboTax, do the following:

Click on Income
Select Add more income
Scroll down to Investments and Savings and click down arrow
Select Stock, Crypto...(1099-DA...)
Select Add investments, Enter a different way, then choose how you want to add your document, or Type it in myself
Select Digital Assets (1099-DA)
Enter brokerage information, then Continue
In the "Tell us about the sales..." section, answer those questions, then Continue
In the "Now choose how to enter your sales", select Sales section totals if you have a lot of transactions, or One by one, Continue
Crucial: To adjust the basis, click on the box below the sales section, I need to adjust my total cost basis. (This is where you make changes based on your personal records of your actual cost, versus what is showing on your 1099-DA)