New IRS form may trigger inflated tax payments

Feb 19, 2026 5:07 PMPublished Feb 19, 2026 5:07 PM

The new IRS Form 1099-DA for crypto transactions, starting in 2025, will only report gross proceeds, not your cost basis. This omission means if you don't meticulously track every single crypto transaction yourself, you will almost certainly overpay your taxes significantly. Is it fair for the IRS to introduce a form that effectively forces taxpayers to pay more unless they do extra work?
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Form 1099-DA is used by brokers to report proceeds from digital asset dispositions to a user and the IRS.

www.thestreet.comNew IRS form may trigger inflated tax paymentsForm 1099-DA is used by brokers to report proceeds from digital asset dispositions to a user and the IRS.

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