Starting with the 2025 tax year, Coinbase is required to issue IRS Form 1099-DA to all US customers.
This new form will standardize gross proceeds and cost basis reporting from the sale and exchange of crypto. Coinbase will provide tax year 2025 Form 1099-DA to you no later than March 17, 2026 and you will receive an email when it is ready for download.
Keep in mind
Gross proceeds reflect the cumulative amount received from all asset dispositions, including sales or exchanges. This is not your net gain or balance, but the total value from all transactions, including small trades.
For tax reporting purposes, a sale includes:
Crypto-to-crypto exchanges (Example: exchanging Bitcoin for Ethereum)
Crypto-to-fiat exchanges (Example: converting Bitcoin to USD)
Any transaction where you receive an amount from the sale or exchange of an asset
When sending crypto, you may incur a network fee. Only the crypto sold or used directly to pay for this network fee is reported on Form 1099-DA. The rest of your send (the amount you transfer to another wallet or address) is not reported on Form 1099-DA.
If an asset is marked as non-covered on your Form 1099-DA, the acquisition of the digital asset does not meet the IRS requirements for Coinbase to report cost basis to the IRS
Coinbase uses Eastern Time for tax reporting. If your trade occurred after midnight ET on Jan 1, 2026, it will be on your tax year 2026 Form 1099-DA not your tax year 2025 Form 1099-DA.
Cost basis reporting
For tax year 2025, Form 1099-DA will only include proceeds from the sale or exchange of your crypto assets. Beginning tax year 2026, Form 1099-DA will also include cost basis information. Coinbase will issue you a Form 1099-DA for the sale or exchange of certain crypto assets within your Coinbase account. You may also want to keep your own records to track and report your cost basis information from other accounts and wallets on your income tax return.
Depending on the types of transactions you’ve made, we suggest that you review and edit the cost basis details for your transactions in Coinbase Taxes so your records remain accurate.
Wash Sales
The wash sale rule under IRS Section 1091 does not apply to crypto, as it only applies to stocks, bonds, mutual funds, and ETFs.
Correct information on your form 1099-DA
If the name, social security number, or state listed on the Form 1099-DA provided by Coinbase is incorrect, contact our support team to request a correction.
Note: Coinbase can only issue a corrected 1099-DA if there is a change in state residency - no other address changes apply.
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