Since the 1099-DA is not technically required for 2025, follow the steps in the link below. If it is unsuccessful, you can enter summary totals using long and short term holding periods (see below).
Your IRS form 1099-DA reports gross proceeds, the digital asset, the number of units and the number of transactions.
- Select Wages & Income.
- Scroll to Investments and Savings.
- Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) > Add investments.
- On the Save time and connect your financial accounts screen, select Enter a different way > Select Type it in myself, then Continue.
- OK, let's start with one investment type, select Digital Assets > Click Continue.
- On the screen Which bank or brokerage is on your 1099-DA, enter the information > Continue.
- On the screen Did you get a 1099-DA from XXX?, select Yes. Click Continue.
- Answer the questions at the screen Tell us about the sales on your 1099-DA
Any digital currency you purchase becomes income at the time you redeem or sell the digital currency and must be reported .
Holding Periods:
- Long term is a holding period of more than one year (one year plus one day) and receives capital gain tax treatment (0%, 10%, 15%, 20% depending on your regular rate of tax)
- Short term is a holding period of one year or less and receives ordinary gain tax treatment (your regular rate)
A solution can be to enter summary transactions if you have many transactions. Your brokerage statements should include a summary of your transactions, grouped by sales category, for example, Box A short-term covered or Box D long-term covered.
You can always use direct entry if you choose, with summary totals. The only exception if wash sales, which must be entered separately, if you have any.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
