Form 1099-DA

Form 1099-DA is a new IRS form created specifically for digital asset transactions. Starting with the 2025 tax year, U.S. crypto brokers — exchanges like Coinbase, Kraken, and Gemini — must report customer gross proceeds to the IRS on 1099-DA, with full cost basis reporting phased in over subsequent years.

For U.S. crypto users, 1099-DA means the IRS has direct visibility into your exchange activity. Reconcile what's reported against your own records before filing to catch discrepancies.

Why it matters for Milo customers

Starting in 2025 tax year, U.S. crypto brokers issue 1099-DA forms reporting your digital asset transactions to the IRS. Milo customers who avoid selling (by borrowing against crypto instead) generate fewer reportable transactions and a simpler tax filing.

Related terms

Capital Gains Tax (Crypto)Cost BasisCrypto Tax LotRealized vs. Unrealized Gains
Fixed-Rate MortgageGas Fee

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