Why it matters
For tax year 2025 most forms show proceeds only, and the IRS said taxpayers must calculate basis themselves. Box 1f is net of transaction costs, so a blank or zero box 1g is not proof of zero basis. Staking and rewards are not on the form; they belong on Schedule 1. Clients with several exchanges and wallets need every account reconciled, since one form never covers all of them.
Example
A client sold half a bitcoin on an exchange in 2026, and the form shows box 1f proceeds with the sale date in box 1e. If the coin was bought on that exchange after 2025 and stayed in custody, box 1g shows the cost. If it was moved in from a personal wallet, box 9 is checked and box 1g may be blank. Ask for the original purchase records and enter the basis on Form 8949 instead.
Related terms
Questions about Form 1099-DA
Does Form 1099-DA report staking rewards?
No. The IRS instructions say not to report rewards and staking payments on Form 1099-DA. Income from staking, mining and forks is reported on Schedule 1 of Form 1040, so a client with staking income needs a separate record of what they received and its value on the date received.
Are there de minimis thresholds on Form 1099-DA?
Yes, for narrow categories. A broker need not report specified NFT sales if proceeds do not exceed $600 for the year, or qualifying stablecoin sales if proceeds do not exceed $10,000 for the year. Sales by a processor of digital asset payments of $600 or less are also excluded. The client still owes tax on any gain, form or no form.