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If you received a 1099-DA it may show an incorrect cost basis, which could lead you to overpay thousands in taxes. Here’s how to fix it.
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Cash App has started issuing Form 1099-DA to U.S. crypto traders for the first time. This quick guide explains what the new 1099-DA means, why you received it, what's missing from the form, and the exact steps you should take next to avoid overpaying on crypto tax.
The IRS quietly changed how crypto transaction fees are taxed starting in 2025, and most traders missed it while focusing on the new Form 1099-DA. The new rules give you an immediate tax benefit instead of making you wait until you sell. Here's what changed, why it matters for your 2025 trades, and how to make sure you're not leaving money on the table.
A step-by-step guide to transferring your crypto Form 1099-DA data to IRS Form 8949, including how to handle missing cost basis, choose the right checkboxes, and avoid common mistakes.
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Swapping one crypto for another is a taxable event, and you will need to work out the USD value of your capital gain or loss to report on your taxes.