Coinbase has started issuing Form 1099-DA to customers for the 2025 tax year, covering reportable crypto sales and exchanges. The exchange sends the form to the IRS and provides a copy to the user. But the form doesn't finish the tax calculation — users still have additional steps to complete.
What the 1099-DA covers
The form is for reportable crypto sales and exchanges that happened during the 2025 tax year. That includes trades where a user sold crypto for fiat, swapped one token for another, or spent crypto on goods and services. Not every transaction makes it onto the form — only those that trigger a taxable event under IRS rules.
What it doesn't do
Here's the catch: the 1099-DA is not a ready-to-file tax summary. It reports gross proceeds and cost basis information, but it doesn't calculate the final gain or loss. Users still need to account for things like holding periods, wash-sale rules (if applicable), and any adjustments from prior years. The form is a starting point, not the last word.
What users should do next
Coinbase advises customers to use the 1099-DA as a reference, not a substitute for their own records. The exchange's tax center offers tools to help, but the responsibility for accurate filing rests with the user. Many will need to import the data into tax software or hand it to an accountant. The form alone won't cut it.
The 1099-DA brings crypto tax reporting closer to what stock brokers have done for years. The IRS gets a copy, which means mismatches between what Coinbase reports and what a user files could trigger a notice. For the 2025 tax year, the deadline to file is April 15, 2026. Coinbase users should expect the form to appear in their accounts over the next few weeks.
