Surgent's A Complete Guide to Reporting Form 1099-DA

Overview

For each digital asset sale that a broker has affected for a customer in 2025, the broker must complete Form 1099-DA. A broker includes any person who, in the ordinary course of a trade or business, stands ready to affect sales of digital assets to be made by others. This program covers the required rules for reporting digital asset transactions on Form 1099-DA.

Prerequisites

None

Objectives

• Understand the rules relating to Form 1099-DA

Highlights

• Definition of a digital asset for purposes of Form 1099-DA
• What is a sale of a digital asset affected by a broker on behalf of another person?
• Mandatory 2025 reporting of gross proceeds information and voluntary reporting of basis information
• Treatment of sales of digital assets
• Who is a broker for purposes of Form 1099-DA?
• Information required to complete Form 1099-DA
• Reporting closing transactions and covered securities
• Who is a processor of digital asset payments?
• How many transactions to report on each Form 1099-DA and how many forms to file for each transaction
• Optional reporting methods for digital asset transactions
• Substitute statements for the Form 1099
• Reporting a disposition of digital assets held by a widely held fixed investment trust