We're proud to announce our new partnership with CoinRabbit, a crypto asset management platform with loan, earn, trade and save services whose users often engage in on-chain activity that can carry tax implications.
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PayPal 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.
Form 1099-DA is changing how crypto taxes are reported. Lock Periods lets you freeze past tax years while switching to per-wallet tracking for 2025, so you can comply with new IRS rules without altering previously filed returns.
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.