Crypto.com 1099-DA Tax Form: Everything You Need to Know Before You File

Crypto.com will issue Form 1099-DA for crypto sales and exchanges, Form 1099-B for futures/options contracts, and Form 1099-MISC for rewards over $600 - all sent via email to your registered address, with proceeds-only reporting for 2025 to avoid errors during this transitional period.

Our guide walks you through the Crypto.com 1099-da tax form so you are fully informed.

What is the Crypto.com Tax Form 1099-DA?

Form 1099-DA is the IRS's new standard for reporting cryptocurrency dispositions on exchanges like Crypto.com.

Crypto.com issues Form 1099-DA to U.S. persons who engaged in reportable transactions—such as selling, exchanging, or disposing of digital assets—from their Crypto.com account during the tax year. The form reports these transactions to both you and the IRS.

Multiple Forms from Crypto.com

Depending on your activity, you may receive up to three different tax forms from Crypto.com.

Each form serves a distinct purpose and reports different types of crypto activity.

How You'll Receive Your Crypto.com 1099-DA Tax Form

Crypto.com delivers all tax forms digitally via email.

You'll receive an email from [[email protected]](mailto:[email protected]) sent to your latest registered email address. The email contains a secure link to download your Form 1099-DA, 1099-MISC, and/or 1099-B.

Check your spam folder if you haven't received the email by mid-February. For a paper copy, contact Crypto.com through in-app chat.

What's on Your Crypto.com 1099-DA Tax Form

Understanding the boxes on your form helps you report accurately.

Box 1A - Digital Asset Code: The DTIF (Digital Token Identification Foundation) code for the crypto asset. Box 1B - Asset Name: The name of the digital asset. May be blank if reporting aggregate stablecoins for the year. Box 1C - Number of Units: Quantity of digital assets sold or disposed. Box 1E - Date Sold: When the transaction occurred. Box 1F - Proceeds: USD value received, minus fees. Box 3A - Reported to IRS: Shows "Proceeds" only for 2025.

The Critical Cost Basis Gap

Crypto.com deliberately avoids reporting cost basis for 2025 to prevent errors.

Unlike some exchanges that may include cost basis on your customer copy, Crypto.com has chosen not to report cost basis information during this transitional period. This decision helps avoid unintended errors while the new system is being implemented.

What this means: The IRS receives only your proceeds - not what you paid. You must calculate and report your own cost basis using your transaction records.

Understanding Form 1099-B for Contracts

If you traded futures or options on Crypto.com, you'll receive a separate form.

Form 1099-B reports profits and losses from regulated futures and options contracts. Here's what each box shows:

• Box 1A: "Regulated Futures/Options" - contracts traded on Crypto.com

• Box 8: Profit or loss on closed contracts

• Box 9: Unrealized profit/loss on 12/31 of prior year (usually $0.00)

• Box 10: Unrealized profit/loss on 12/31 of current year (usually $0.00)

• Box 11: Aggregate profit or loss (sum of boxes 8, 9, and 10)

This form is separate from your 1099-DA and covers derivative trading only.

What Triggers Each Form Type

Different activities on Crypto.com generate different tax forms.

1099-DA triggers:

• Selling crypto for USD

• Trading one crypto for another

• Exchanging digital assets

• Using crypto to purchase goods/services

1099-MISC triggers:

• Lock-Up rewards totaling $600+

• Crypto Earn interest totaling $600+

• Referral bonuses totaling $600+

• Combined rewards from multiple programs reaching $600+

1099-B triggers:

• Any futures or options contract activity

• No minimum threshold

Accessing Your Transaction History

You'll need detailed records beyond what the 1099 forms provide.

Download your complete transaction history directly from the Crypto.com app. This export includes all trades, transfers, deposits, withdrawals, and rewards—essential for calculating your actual cost basis.

To export: Navigate to your account settings > transaction history > download CSV.

Common Crypto.com Tax Scenarios

Understanding these situations helps you prepare correctly.

Multiple platforms: If you transferred crypto to Crypto.com from Coinbase, Binance, or another exchange, Crypto.com doesn't know your original purchase price. You need records from the originating platform.

Stablecoin aggregation: Stablecoin transactions may be reported as an aggregate on your 1099-DA rather than individually, with the asset name field left blank.

Lock-Up and Earn: These rewards appear on Form 1099-MISC as ordinary income when received, then create cost basis for when you later sell that crypto.

Wash trading note: Crypto.com's documentation mentions wash sales for informational purposes, though wash sale rules don't currently apply to cryptocurrency in the U.S.

Tax Rates for Crypto.com Transactions

How you're taxed depends on the transaction type and holding period.

*Futures/options: 60% taxed as long-term, 40% as short-term, regardless of holding period.

Correcting Errors on Your Forms

Mistakes happen—here's how to fix them.

If your 1099 form contains incorrect information, or if you should have received one but didn't, contact Crypto.com immediately through in-app chat.

Common correction scenarios:

• Wrong name or tax ID

• Missing transactions

• Incorrect amounts

• Form received in error

Address issues before filing your tax return to avoid complications.

Required IRS Forms for Filing

Your Crypto.com forms are just the starting point.

Even with 1099-DA, 1099-MISC, and 1099-B from Crypto.com, you must file:

Form 8949 - Details each crypto sale with proceeds and cost basis (from your records).

Schedule D - Summarizes your capital gains and losses from Form 8949.

Schedule 1 - Reports Form 1099-MISC income (Lock-Up, Earn, referrals).

Form 6781 - Reports Section 1256 contracts if you traded futures/options.

Calculating Your Cost Basis

Here's what you need to determine your actual gains.

For crypto purchased directly on Crypto.com, use your transaction history to find the original purchase price plus any fees.

For crypto transferred to Crypto.com from elsewhere:

1. Locate records from the original exchange or wallet

2. Find the purchase date and price

3. Include all acquisition fees

4. Document the transfer date to Crypto.com

Without this information, you risk the IRS assuming zero cost basis—meaning you'd owe tax on your entire proceeds.

Using Crypto Tax Software

Professional crypto tax software handles the complexity for you.

Awaken Tax integrates with Crypto.com to:

• Import all transactions automatically

• Track cost basis across multiple platforms

• Handle transferred crypto from other exchanges

• Generate Form 8949 and Schedule D

• Reconcile against your 1099-DA, 1099-MISC, and 1099-B

This is especially valuable if you use Crypto.com plus other exchanges, DeFi protocols, or self-custody wallets.

What Happens If You Don't Report Using Your Crypto.com 1099-DA Form

The IRS receives copies of all your Crypto.com 1099 forms and will notice discrepancies.

Immediate risks:

• CP2000 notice for unreported income

• Accuracy penalties (20% of underpayment)

• Interest charges from the original due date

Serious consequences:

• Audit likelihood increases dramatically

• Penalties can reach 25% of unpaid tax

• Criminal prosecution in extreme cases of fraud

The IRS's automated systems flag mismatches between what Crypto.com reports and what appears on your return.

Common Crypto.com Tax Mistakes

Avoid these errors to stay compliant.

Assuming one form is enough - If you used Lock-Ups, Earn, referrals, AND traded crypto, you need all forms and must report all activity types.

Forgetting transferred crypto - Crypto moved to Crypto.com from other platforms requires you to maintain original purchase records.

Not keeping transaction exports - The 1099-DA doesn't include every detail you need. Download and save your complete transaction history.

Mixing up form types - 1099-MISC income goes on Schedule 1, while 1099-DA sales go on Form 8949. They're reported differently.

Ignoring futures/options reporting - Form 1099-B for contracts requires Form 6781 using special Section 1256 tax treatment.

Tax Planning Strategies

Simple moves can reduce your Crypto.com tax bill legally.

Hold longer than a year - Long-term capital gains rates (0-20%) beat ordinary income rates (10-37%) significantly.

Tax-loss harvesting - Sell losing crypto positions before year-end. Crypto isn't subject to wash sale rules (yet), so you can offset gains and even repurchase immediately.

Time your Lock-Up releases - Consider the tax impact of when you unstake rewards if you have control over timing.

Track everything - Good records enable accurate reporting, defend against IRS questions, and identify tax-saving opportunities.

Getting Professional Help

Know when to handle taxes yourself versus hiring expertise.

DIY works if:

• Fewer than 75 transactions total

• Simple buy-and-hold strategy

• All crypto purchased on Crypto.com

• No futures/options trading

• Comfortable with tax software

Hire a professional if:

• Activity across multiple platforms

• Transferred crypto with complex history

• Futures/options trading

• Received IRS notices

• High-value portfolio

• Prior year corrections needed

Look for tax professionals with cryptocurrency specialization and Form 1099-DA experience.

Key Takeaways

Remember these essential points about Crypto.com taxes.

• Multiple forms possible - You may receive 1099-DA, 1099-MISC, and 1099-B depending on your activity. Each serves a different purpose.

• Proceeds-only for 2025 - Crypto.com deliberately doesn't report cost basis to avoid transitional errors. You must calculate and prove your own basis.

• Save all records - Download your transaction history and keep records from any exchange where you originally purchased crypto.

• Email delivery - Forms come via email from [[email protected]](mailto:[email protected]). Check spam if you don't see it.

• File accurately - The IRS receives copies of all your forms. Mismatches trigger automated notices and potential audits.

Crypto.com 1099-DA Tax Form FAQs

Does Crypto.com send my tax forms to the IRS automatically? Yes, Crypto.com files copies of Form 1099-DA, 1099-MISC, and 1099-B with the IRS, so they already have your transaction information before you file your return.

Why doesn't my Crypto.com 1099-DA show cost basis? Crypto.com chose not to report cost basis during the 2025 transitional period to avoid unintended errors - you're responsible for calculating and reporting your own cost basis using your transaction records.

What's the difference between 1099-DA, 1099-MISC, and 1099-B from Crypto.com? Form 1099-DA reports crypto sales and exchanges, 1099-MISC reports rewards income over $600 (Lock-Up, Earn, referrals), and 1099-B reports futures/options contract profits and losses - each covers different activities.

Do I need to report crypto if I only held it on Crypto.com without selling? No, buying and holding isn't taxable, but you must report all sales, exchanges, Lock-Up/Earn rewards, and futures/options activity even without receiving forms.

What if I can't find my original purchase records for crypto I transferred to Crypto.com? You'll need to reconstruct your purchase history using bank statements, old exchange records, or transaction confirmations -without documentation, the IRS may assume zero cost basis and tax your entire proceeds.

Note: This article is for informational purposes only and does not constitute tax, legal, or financial advice. Consult a qualified tax professional for guidance specific to your situation.

Also read:

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