This article is for information only and is not tax advice.
This article explains how to enter the information from Form 1099-DA in Sprintax Returns. Use it if you received a Form 1099-DA.
About Form 1099-DA
Form 1099-DA reports taxable transactions that involve digital assets, such as cryptocurrency and NFTs. The form goes to both you and the IRS.
Before you start
Check the following points before you enter any information:
- Use Copy B of your Form 1099-DA. Sprintax asks for the information on Copy B.
- Don't combine information from different forms. Enter the information from one form at a time.
- Use Form 1099-DA only to report proceeds from digital asset transactions. If you received a Form 1099-B that covers cryptocurrency sales, use the Cryptocurrency Transactions section instead.
Enter the filer details
Every field in this article is mandatory. The following table lists each filer field and what to enter.
| Field | What to enter |
|---|---|
| Filer's name | Your name. |
| Filer's street address | Your address. |
| Filer's city | Your US city. |
| Filer's state | Your US state. |
| Filer's ZIP code | Your ZIP code. |
| Filer's TIN | Your TIN (your SSN or ITIN). |
Enter the transaction details
The following table lists each transaction field and what to enter. The box numbers match the box numbers on your form.
| Box | What to enter |
|---|---|
| 1a Code for digital asset | The Digital Token Identifier Foundation (DTIF) code of the digital asset that Box 1b names. |
| 1b Name of digital asset | The name of the digital asset. |
| 1c Number of units | The number of digital asset units that you sold, exchanged, or otherwise disposed of in the transaction. |
| 1f Proceeds | The total proceeds from the transaction. Total proceeds can include cash, the value of services, digital assets, or other property that you received in exchange. |
| 1g Cost or other basis | The total cost or other basis of the digital assets that you sold, exchanged, or otherwise disposed of. For blank entries, see the section on cost or other basis in Box 1g. |
| 6 Gain or loss is | The gain or loss type that your form marks. For the Ordinary box and for blank entries, see the section on gain or loss in Box 6. |
| 14 State name | The state and local income tax information that your form shows. |
Cost or other basis in Box 1g
The entry in Box 1g depends on what your form shows:
- If Box 1g has an entry, including 0, the filer reported that amount to the IRS as your basis.
- If Box 1g is blank, determine your basis from your own books and records.
- If Box 9 is checked, Box 1g can be blank. This happens when the filer didn't know the cost or other basis, or when the digital assets were acquired before the tax year.
Gain or loss in Box 6
The Box 6 options on your form have the following meanings:
- The short-term and long-term boxes show short-term gain or loss and long-term gain or loss.
- If the Ordinary box is checked, special rules can apply to your digital asset. For details on special rules and adjustments, see the Instructions for Form 8949, Publication 550, and Publication 1212.
- If Box 9 is checked, Box 6 can be blank.