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Definition: 1099-DA


(1099-Digital Asset) The IRS 1099 tax form designed for cryptocurrencies, which is expected in 2022 or 2023. Since 2017, crypto exchanges have been submitting the 1099-K used by credit card companies, the 1099-B used by brokers and the 1099-MISC general-purpose form. Such reporting is typically generated only for high-dollar customers. The 2021 U.S. Infrastructure Bill requires 1099-B, and 1099-DA is expected to become the standard reporting for crypto profits. See Node40.