{"id":3998,"date":"2026-07-16T01:23:51","date_gmt":"2026-07-16T01:23:51","guid":{"rendered":"https:\/\/getw9.tax\/blog\/?p=3998"},"modified":"2026-07-16T01:23:52","modified_gmt":"2026-07-16T01:23:52","slug":"form-1099-da-business-guide","status":"publish","type":"post","link":"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/","title":{"rendered":"Form 1099-DA Explained: What Businesses Need to Know About Digital-Asset Reporting"},"content":{"rendered":"\n<p>Digital-asset tax reporting changed significantly beginning with transactions made in 2025. Brokers now use <strong>Form 1099-DA, Digital Asset Proceeds From Broker Transactions<\/strong>, to report certain sales and dispositions of cryptocurrency and other digital assets.<\/p>\n\n\n\n<p>However, Form 1099-DA does <strong>not<\/strong> replace Form W-9, Form 1099-NEC, or the normal rules for paying contractors and vendors.<\/p>\n\n\n\n<p>That distinction matters. A crypto exchange may report a digital-asset disposition on Form 1099-DA, while a business paying a contractor in crypto may separately have vendor-information and nonemployee-compensation reporting responsibilities.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#The_quick_answer\" >The quick answer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#What_is_a_digital_asset\" >What is a digital asset?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#What_is_Form_1099-DA\" >What is Form 1099-DA?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#Who_files_Form_1099-DA\" >Who files Form 1099-DA?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#What_changed_in_2025_and_2026\" >What changed in 2025 and 2026?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#Transactions_occurring_in_2025\" >Transactions occurring in 2025<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#Transactions_occurring_in_2026_and_later\" >Transactions occurring in 2026 and later<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#What_is_a_covered_digital_asset\" >What is a covered digital asset?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#Does_a_business_file_Form_1099-DA_when_it_pays_a_contractor_in_crypto\" >Does a business file Form 1099-DA when it pays a contractor in crypto?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#1_The_contractor_receives_compensation\" >1. The contractor receives compensation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#2_The_business_may_dispose_of_a_digital_asset\" >2. The business may dispose of a digital asset<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#Form_1099-DA_vs_Form_W-9_and_Form_1099-NEC\" >Form 1099-DA vs. Form W-9 and Form 1099-NEC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#Where_Form_W-9_fits_into_digital-asset_payments\" >Where Form W-9 fits into digital-asset payments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#Does_backup_withholding_apply_to_digital-asset_sales_in_2026\" >Does backup withholding apply to digital-asset sales in 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#What_if_a_business_accepts_crypto_from_customers\" >What if a business accepts crypto from customers?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#Common_Form_1099-DA_misconceptions\" >Common Form 1099-DA misconceptions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#%E2%80%9CEvery_business_that_accepts_crypto_must_file_Form_1099-DA%E2%80%9D\" >\u201cEvery business that accepts crypto must file Form 1099-DA.\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#%E2%80%9CForm_1099-DA_replaces_Form_1099-NEC%E2%80%9D\" >\u201cForm 1099-DA replaces Form 1099-NEC.\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#%E2%80%9CI_do_not_owe_tax_if_I_do_not_receive_Form_1099-DA%E2%80%9D\" >\u201cI do not owe tax if I do not receive Form 1099-DA.\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#%E2%80%9CThe_gross_proceeds_on_Form_1099-DA_are_my_taxable_profit%E2%80%9D\" >\u201cThe gross proceeds on Form 1099-DA are my taxable profit.\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#%E2%80%9CEvery_vendor_paid_in_crypto_should_complete_Form_W-9%E2%80%9D\" >\u201cEvery vendor paid in crypto should complete Form W-9.\u201d<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#A_practical_checklist_for_businesses\" >A practical checklist for businesses<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#How_GetW9_fits_into_the_process\" >How GetW9 fits into the process<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/getw9.tax\/blog\/form-1099-da-business-guide\/#The_bottom_line\" >The bottom line<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_quick_answer\"><\/span>The quick answer<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Form 1099-DA is generally filed by a digital-asset broker\u2014not by every business that accepts or uses cryptocurrency.<\/p>\n\n\n\n<p>For transactions occurring in 2025, brokers generally report gross proceeds. Beginning with transactions occurring in 2026, brokers must also report basis information for certain covered digital assets.<\/p>\n\n\n\n<p>A business that pays a contractor or vendor in crypto may still need to collect the appropriate tax documentation and comply with the ordinary information-reporting rules. For a U.S. payee, that documentation will often be Form W-9. Foreign payees generally provide an appropriate Form W-8 instead.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_a_digital_asset\"><\/span>What is a digital asset?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>For federal tax purposes, a digital asset is a digital representation of value recorded on a cryptographically secured distributed ledger, such as a blockchain or similar technology.<\/p>\n\n\n\n<p>Examples can include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cryptocurrency such as Bitcoin or Ethereum<\/li>\n\n\n\n<li>Certain stablecoins<\/li>\n\n\n\n<li>Non-fungible tokens, or NFTs<\/li>\n\n\n\n<li>Tokenized securities<\/li>\n\n\n\n<li>Other blockchain-based representations of value<\/li>\n<\/ul>\n\n\n\n<p>The IRS generally treats digital assets as <strong>property<\/strong>, not as U.S. currency. Selling, exchanging, spending or otherwise disposing of a digital asset can therefore create a reportable transaction and a taxable gain or loss.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Form_1099-DA\"><\/span>What is Form 1099-DA?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Form 1099-DA is an IRS information return officially titled <strong>Digital Asset Proceeds From Broker Transactions<\/strong>.<\/p>\n\n\n\n<p>It is used by covered brokers to report certain sales, exchanges and other dispositions of digital assets that they effect for customers.<\/p>\n\n\n\n<p>It is similar in purpose to Form 1099-B, which is commonly used by traditional brokers to report securities transactions. Form 1099-DA is specifically designed for digital assets.<\/p>\n\n\n\n<p>A Form 1099-DA may include information such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The digital asset involved<\/li>\n\n\n\n<li>The date acquired, when required<\/li>\n\n\n\n<li>The date sold or disposed<\/li>\n\n\n\n<li>The number of units sold<\/li>\n\n\n\n<li>Gross proceeds<\/li>\n\n\n\n<li>Cost or other basis, when required<\/li>\n\n\n\n<li>Transaction costs in certain cases<\/li>\n\n\n\n<li>Federal income tax withheld, when applicable<\/li>\n<\/ul>\n\n\n\n<p>Form 1099-DA is an information return. It does not necessarily calculate the recipient\u2019s final taxable gain or loss.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_files_Form_1099-DA\"><\/span>Who files Form 1099-DA?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Form 1099-DA is generally filed by a <strong>U.S. digital-asset broker<\/strong> that effects reportable digital-asset sales for customers.<\/p>\n\n\n\n<p>Depending on its activities, a broker may include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A custodial digital-asset exchange<\/li>\n\n\n\n<li>A hosted wallet provider that effects customer dispositions<\/li>\n\n\n\n<li>A person that regularly redeems digital assets it created or issued<\/li>\n\n\n\n<li>A digital-asset kiosk operator<\/li>\n\n\n\n<li>Certain real-estate reporting persons<\/li>\n\n\n\n<li>Certain processors of digital-asset payments<\/li>\n\n\n\n<li>Other agents, dealers or digital-asset middlemen that effect customer dispositions<\/li>\n<\/ul>\n\n\n\n<p>Simply accepting crypto from a customer or paying a vendor in crypto does not automatically turn an ordinary business into a Form 1099-DA broker. The business must examine what services it actually provides and whether it effects digital-asset sales for other people.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_changed_in_2025_and_2026\"><\/span>What changed in 2025 and 2026?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Form 1099-DA rollout occurs in stages.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Transactions_occurring_in_2025\"><\/span>Transactions occurring in 2025<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>For reportable digital-asset sales effected in 2025, brokers generally must report <strong>gross proceeds<\/strong>.<\/p>\n\n\n\n<p>Brokers were not required to report cost basis for those 2025 transactions, although voluntary basis reporting was permitted.<\/p>\n\n\n\n<p>This means a Form 1099-DA covering a 2025 transaction may show what the customer received from the sale without showing what the customer originally paid for the digital asset. The recipient must therefore maintain separate cost-basis records to calculate the actual gain or loss.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Transactions_occurring_in_2026_and_later\"><\/span>Transactions occurring in 2026 and later<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>For transactions occurring after 2025, brokers generally must report:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Gross proceeds for reportable digital-asset sales<\/li>\n\n\n\n<li>Basis information for digital assets classified as covered securities<\/li>\n\n\n\n<li>Additional transaction information required by the form<\/li>\n<\/ul>\n\n\n\n<p>Basis reporting is generally voluntary for noncovered digital assets. Certain optional reporting methods for qualifying stablecoins and specified NFTs may also allow brokers to omit basis and other transaction-level information.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_a_covered_digital_asset\"><\/span>What is a covered digital asset?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A digital asset is not automatically a covered security simply because it was purchased in 2026.<\/p>\n\n\n\n<p>In general, a digital asset is covered when it:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Was acquired after 2025;<\/li>\n\n\n\n<li>Was acquired in an account for which the broker provided custodial services; and<\/li>\n\n\n\n<li>Remained in that account until the broker effected its disposition.<\/li>\n<\/ol>\n\n\n\n<p>A digital asset is generally noncovered when it was:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Acquired before 2026<\/li>\n\n\n\n<li>Transferred into the broker from another wallet or platform<\/li>\n\n\n\n<li>Acquired outside an account for which the broker provided custodial services<\/li>\n\n\n\n<li>Otherwise excluded under the applicable reporting rules<\/li>\n<\/ul>\n\n\n\n<p>This distinction determines whether the broker must report basis information.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Does_a_business_file_Form_1099-DA_when_it_pays_a_contractor_in_crypto\"><\/span>Does a business file Form 1099-DA when it pays a contractor in crypto?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Usually, no.<\/p>\n\n\n\n<p>Paying a contractor in crypto does not automatically require the business to prepare Form 1099-DA. Form 1099-DA is generally the broker\u2019s reporting form.<\/p>\n\n\n\n<p>However, paying for services with digital assets can create <strong>two separate tax and reporting issues<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_The_contractor_receives_compensation\"><\/span>1. The contractor receives compensation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The fair market value of the digital assets received for services is generally income to the contractor.<\/p>\n\n\n\n<p>Depending on the payment, the payee and the applicable reporting rules, the business may still need to report nonemployee compensation or another type of payment on Form 1099-NEC or Form 1099-MISC.<\/p>\n\n\n\n<p>Using crypto instead of dollars does not automatically remove the normal information-reporting requirements.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_The_business_may_dispose_of_a_digital_asset\"><\/span>2. The business may dispose of a digital asset<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When a business transfers digital assets in exchange for services, it may also be disposing of property.<\/p>\n\n\n\n<p>The business may therefore need to calculate a gain or loss based on:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The fair market value of the services received<\/li>\n\n\n\n<li>The business\u2019s adjusted basis in the digital asset transferred<\/li>\n<\/ul>\n\n\n\n<p>A broker involved in the transaction may separately report the disposition on Form 1099-DA.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Form_1099-DA_vs_Form_W-9_and_Form_1099-NEC\"><\/span>Form 1099-DA vs. Form W-9 and Form 1099-NEC<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>These forms have different jobs.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Form<\/th><th>Main purpose<\/th><th>Usually handled by<\/th><\/tr><\/thead><tbody><tr><td><strong>Form 1099-DA<\/strong><\/td><td>Reports certain digital-asset sales and dispositions<\/td><td>Digital-asset broker<\/td><\/tr><tr><td><strong>Form W-9<\/strong><\/td><td>Collects a U.S. payee\u2019s legal name, tax classification and TIN<\/td><td>Business, payer or broker requesting the information<\/td><\/tr><tr><td><strong>Form 1099-NEC<\/strong><\/td><td>Reports qualifying nonemployee compensation<\/td><td>Business or payer<\/td><\/tr><tr><td><strong>Form 1099-MISC<\/strong><\/td><td>Reports certain other payments, such as rents or royalties<\/td><td>Business or payer<\/td><\/tr><tr><td><strong>Form W-8<\/strong><\/td><td>Documents the status of an applicable foreign payee<\/td><td>Foreign individual or entity<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Form W-9 is generally retained by the requester. It is not normally submitted directly to the IRS by the person completing it.<\/p>\n\n\n\n<p>The information collected on Form W-9 can later support applicable information returns, including Forms 1099-NEC and 1099-MISC. Brokers may also request taxpayer information from customers to meet Form 1099-DA reporting requirements.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Where_Form_W-9_fits_into_digital-asset_payments\"><\/span>Where Form W-9 fits into digital-asset payments<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A business should not collect Form W-9 from everyone it pays without considering the payee\u2019s status.<\/p>\n\n\n\n<p>Form W-9 is generally used by a <strong>U.S. person<\/strong>, including a U.S. citizen, resident alien or qualifying U.S. entity, to provide a correct taxpayer identification number.<\/p>\n\n\n\n<p>A foreign person should generally not complete Form W-9. The person may instead need to provide the applicable Form W-8 or, in certain cases, Form 8233.<\/p>\n\n\n\n<p>For applicable U.S. vendors and contractors, collecting Form W-9 before payment helps the business:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Confirm the payee\u2019s legal name<\/li>\n\n\n\n<li>Obtain the payee\u2019s TIN<\/li>\n\n\n\n<li>Record the payee\u2019s tax classification<\/li>\n\n\n\n<li>Prepare applicable year-end information returns<\/li>\n\n\n\n<li>Reduce last-minute follow-up before filing deadlines<\/li>\n<\/ul>\n\n\n\n<p>The W-9 supports the vendor-payment record. It does not determine whether the business is a Form 1099-DA broker.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Does_backup_withholding_apply_to_digital-asset_sales_in_2026\"><\/span>Does backup withholding apply to digital-asset sales in 2026?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The general tax rules allow backup withholding to apply to certain reportable payments when a payee does not provide a correct or properly certified TIN.<\/p>\n\n\n\n<p>However, the IRS provided transitional relief specifically for broker-effected digital-asset sales. Under IRS Notice 2025-33, backup withholding is not required on digital-asset sales effected by brokers during calendar years <strong>2025 or 2026<\/strong>.<\/p>\n\n\n\n<p>This relief is limited to the covered broker transactions. It should not be interpreted as eliminating backup-withholding requirements that may apply to other types of vendor or contractor payments.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_if_a_business_accepts_crypto_from_customers\"><\/span>What if a business accepts crypto from customers?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Accepting crypto does not automatically mean the business will file or receive Form 1099-DA.<\/p>\n\n\n\n<p>The result depends on how the transaction is structured.<\/p>\n\n\n\n<p>For example, a digital-asset payment processor may act as a broker when it receives digital assets from one party and transfers digital assets, cash or different digital assets to another party. The processor may have Form 1099-DA reporting responsibilities for a reportable disposition that it effects.<\/p>\n\n\n\n<p>The merchant should not assume that Form 1099-DA represents its total business revenue. It should reconcile any form received with its:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Sales records<\/li>\n\n\n\n<li>Processor statements<\/li>\n\n\n\n<li>Wallet activity<\/li>\n\n\n\n<li>Transaction fees<\/li>\n\n\n\n<li>Digital-asset basis records<\/li>\n\n\n\n<li>Accounting records<\/li>\n<\/ul>\n\n\n\n<p>The IRS requires taxpayers to keep sufficient records of their digital-asset receipts, sales, exchanges and other dispositions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Common_Form_1099-DA_misconceptions\"><\/span>Common Form 1099-DA misconceptions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E2%80%9CEvery_business_that_accepts_crypto_must_file_Form_1099-DA%E2%80%9D\"><\/span>\u201cEvery business that accepts crypto must file Form 1099-DA.\u201d<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Not necessarily. Form 1099-DA is generally filed by a qualifying digital-asset broker that effects reportable customer dispositions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E2%80%9CForm_1099-DA_replaces_Form_1099-NEC%E2%80%9D\"><\/span>\u201cForm 1099-DA replaces Form 1099-NEC.\u201d<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It does not. A broker-reported digital-asset disposition and a business\u2019s payment to a contractor are separate reporting matters.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E2%80%9CI_do_not_owe_tax_if_I_do_not_receive_Form_1099-DA%E2%80%9D\"><\/span>\u201cI do not owe tax if I do not receive Form 1099-DA.\u201d<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Incorrect. Taxpayers must report applicable digital-asset income and transactions even when no information return is received.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E2%80%9CThe_gross_proceeds_on_Form_1099-DA_are_my_taxable_profit%E2%80%9D\"><\/span>\u201cThe gross proceeds on Form 1099-DA are my taxable profit.\u201d<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Not necessarily. Taxable gain or loss generally depends on the difference between the amount realized and the taxpayer\u2019s adjusted basis, along with other applicable adjustments.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E2%80%9CEvery_vendor_paid_in_crypto_should_complete_Form_W-9%E2%80%9D\"><\/span>\u201cEvery vendor paid in crypto should complete Form W-9.\u201d<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>No. Form W-9 is generally for U.S. persons. Foreign payees generally provide the appropriate Form W-8 or other applicable documentation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"A_practical_checklist_for_businesses\"><\/span>A practical checklist for businesses<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Before making or accepting digital-asset payments:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Determine whether the other party is a customer, vendor, contractor, employee or broker.<\/li>\n\n\n\n<li>Collect the appropriate tax documentation before payment when required.<\/li>\n\n\n\n<li>Use Form W-9 only for applicable U.S. persons.<\/li>\n\n\n\n<li>Record the digital asset\u2019s fair market value in U.S. dollars at the time of payment or receipt.<\/li>\n\n\n\n<li>Track the asset type, quantity, transaction date and wallet or platform involved.<\/li>\n\n\n\n<li>Keep documentation supporting the business\u2019s cost basis.<\/li>\n\n\n\n<li>Determine whether the payment may require Form 1099-NEC, Form 1099-MISC or another return.<\/li>\n\n\n\n<li>Reconcile any Form 1099-DA received with the business\u2019s own records.<\/li>\n\n\n\n<li>Have a qualified tax professional review unusual or high-value transactions.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_GetW9_fits_into_the_process\"><\/span>How GetW9 fits into the process<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>GetW9 does not determine whether a business qualifies as a digital-asset broker, calculate crypto gains or losses, or file Form 1099-DA.<\/p>\n\n\n\n<p>Its role is earlier in the vendor-compliance process.<\/p>\n\n\n\n<p>GetW9 helps businesses request, collect, track and organize W-9 information from applicable U.S. vendors and contractors. That gives accounting and accounts-payable teams a clearer record of which forms have been requested, received or are still outstanding before year-end reporting begins.<\/p>\n\n\n\n<p>Whether payment is made by bank transfer, check or digital asset, clean vendor information remains an important part of preparing accurate information returns.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_bottom_line\"><\/span>The bottom line<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Form 1099-DA brings more standardized third-party reporting to digital-asset transactions, but it does not replace ordinary vendor documentation and information-reporting rules.<\/p>\n\n\n\n<p>The practical distinction is:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Brokers generally use Form 1099-DA to report digital-asset dispositions.<\/strong><\/li>\n\n\n\n<li><strong>Businesses use Form W-9 information to support applicable vendor and contractor reporting.<\/strong><\/li>\n\n\n\n<li><strong>Paying in crypto can create both a compensation-reporting issue and a separate disposition of property.<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Keep the two reporting tracks separate, maintain complete transaction records and involve a qualified tax professional when determining which forms apply.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><strong>Disclaimer:<\/strong> This article is for general educational purposes and does not constitute tax, legal or accounting advice. Digital-asset transactions can have different consequences depending on the parties, transaction structure and applicable law. Consult a qualified professional about your specific situation.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Digital-asset tax reporting changed significantly beginning with transactions made in 2025. Brokers now use Form 1099-DA, Digital Asset Proceeds From Broker Transactions, to report certain sales and dispositions of cryptocurrency and other digital assets. However, Form 1099-DA does not replace Form W-9, Form 1099-NEC, or the normal rules for paying contractors and vendors. That distinction [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[236,265,264,263,266,157,267,169],"class_list":["post-3998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax-compliance","tag-contractor-payments","tag-cryptocurrency-tax","tag-digital-assets","tag-form-1099-da","tag-form-1099-nec","tag-form-w-9","tag-information-reporting","tag-vendor-compliance"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Form 1099-DA: 2026 Business Guide to Crypto Reporting<\/title>\n<meta name=\"description\" content=\"Learn who files Form 1099-DA, what changed in 2026, and how W-9 and 1099-NEC rules apply when businesses pay vendors in digital assets.\" \/>\n<meta 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