# U.S. Crypto Investors Face First 1099-DA Season With Data and Cost-Basis Gaps

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/24158
Published: 2026-09-25T13:45:51.000Z
Updated: 2026-09-25T13:45:51.000Z
Section: Regulation

> An August survey found that 21% of U.S. crypto investors who had filed or planned to request an extension were still waiting for tax information from exchanges or platforms.

The first U.S. tax season under the 1099-DA reporting rules is exposing gaps in transaction and cost-basis data as crypto investors prepare their filings.

An August survey of 1,000 U.S. crypto investors found that 21% of respondents who had already filed their taxes or planned to request an extension were still waiting for necessary information from an exchange or crypto platform.

About 20% said their 1099-DA forms were incomplete or they were unsure whether the forms accurately reflected their transactions. The results point to potential challenges for taxpayers trying to reconcile activity across platforms and calculate their taxable gains or losses.

For transactions conducted in 2025, brokers generally must report digital-asset sale proceeds. In most cases, however, they do not have to report the cost basis, leaving taxpayers responsible for calculating gains and losses.

Beginning in 2026, brokers must report cost basis for eligible digital-asset transactions. The change is intended to provide more information for future filings, but taxpayers still must review their records and report digital-asset income and gains or losses.

The Internal Revenue Service has also stated that digital-asset income and gains or losses must be reported even when a taxpayer does not receive a 1099-DA.