Crypto Tax Guide USA

The IRS rolled out Form 1099-DA for crypto transactions. On paper, it sounds straightforward: exchanges report your activity, you file your taxes to match those numbers, and everyone moves on. Simple compliance, right? 

Except it's not simple at all. It's a trap, and most people won't realize they're in it until a CP2000 notice shows up in the mail telling them they owe thousands more than they thought. 

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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.

Binance US 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.

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Cost basis tracking rules for US crypto taxpayers changed on January 1, 2025 (for reporting in 2026). The IRS now requires per-wallet tracking instead of universal pooling, and if you don't transition correctly, your tax calculations could be wrong. This guide breaks down what changed, why it matters, and how Summ handles the migration for you automatically.

Caleb & Brown 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.

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Coinbase 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.

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You’ve probably heard the term “1099-DA” thrown around recently. You may have already received one. So what is it? And more importantly, what are you actually supposed to do with it?

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Kraken 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.

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Form 1099-DA marks a structural shift in how digital-asset activity enters the tax system through standardized third-party reporting, automated matching and reconciliation-based enforcement. Form 1099-DA is not the cause of the transition but it is the first large-scale stress test of what I refer to as the Digital Asset Compliance Era.

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