Does Crypto.com Report to the IRS?

Crypto.com reports certain US customer activity to the IRS under applicable information-reporting rules. The main form for crypto sales and swaps is now Form 1099-DA. When Crypto.com issues a reportable tax form, the IRS also receives the information reported on it.

If you receive a 1099 from Crypto.com or any exchange, you must report crypto on your taxes. You must also report taxable transactions if you receive no form at all.

For the 2025 tax year, Crypto.com issued three types of tax forms to eligible US customers whose activity met the applicable reporting requirements:

• Form 1099-DA: for certain sales, swaps, and other dispositions of crypto.

• Form 1099-MISC: for qualifying rewards from Lock-Ups, Earn, referrals, and similar programs. For 2025, Crypto.com used a $600 threshold for these rewards.

• Form 1099-B: for applicable regulated futures and options contracts.

For payments made after December 31, 2025, the federal reporting threshold increased from $600 to $2,000 for many Form 1099-MISC and Form 1099-NEC categories, including certain other-income payments. That is not a universal $2,000 threshold for every Form 1099-MISC box. For example, royalties generally still have a $10 threshold.

Before Form 1099-DA, some exchanges used Form 1099-K to report certain customer activity. Congress restored the previous reporting threshold for third-party settlement organizations in 2025, generally requiring a Form 1099-K when payments for goods or services exceed $20,000 and 200 transactions. Crypto sales and swaps handled by digital asset brokers are now generally reported under the newer Form 1099-DA rules instead.

For more on these forms, see What is a Crypto 1099?.

About the 1099-DA for crypto

Form 1099-DA is the IRS information return US digital asset brokers use to report certain customer sales, exchanges, and other dispositions. Brokers furnished the first forms in early 2026 for 2025 transactions.

Crypto.com's 2025 Forms 1099-DA reported gross proceeds without cost basis. As Crypto.com explains in its 2025 Form 1099 FAQ, it chose not to report basis during the IRS transition period. That means you need your own records to calculate your gain or loss and complete Form 8949 and Schedule D.

The rules change for 2026 sales. Brokers must report basis for covered securities. For Form 1099-DA purposes, a covered security is generally crypto acquired after 2025 in an account where the broker provided custodial services and held there until the broker handled the disposition. Crypto acquired before 2026 or transferred into Crypto.com from another exchange or wallet is generally a noncovered security. Crypto.com is not required to report basis for those assets, so you still need your own records.

There is another wrinkle for 2026. IRS Notice 2026-20 extends temporary lot-identification relief through December 31, 2026. In certain cases, eligible taxpayers can identify the specific units sold in their own books and records even when a broker's systems do not accept the same identification.

Because that relief does not change the broker's information-reporting rules, the acquisition date or basis on a 2026 Form 1099-DA may not match the lot identification in your records. Reconcile your Crypto.com form with your own transaction history before completing Form 8949. Brokers also collect customer tax status through forms such as W-9 and W-8. Under IRS Notice 2025-33, brokers receive transitional relief from backup withholding on digital asset sales made during 2025 and 2026.

For 2027 sales, that relief is more limited. It can still apply when a broker obtains a customer's taxpayer identification number, submits the name and TIN through the IRS TIN Matching Program, and receives a match. Otherwise, the normal 24% backup withholding rules may apply when required.

Not every transaction creates tax, but many do. Selling crypto for cash, swapping one crypto asset for another, or spending crypto generally creates a taxable disposal. Calculate your capital gain or loss by comparing the proceeds with your cost basis.

Rewards from staking, Earn, referrals, and other taxable programs may create ordinary income based on their fair market value when received or when you gain control of them. Buying crypto with US dollars and holding it is not taxable by itself. Moving crypto between wallets or accounts you own also generally does not create a gain or loss.

A Form 1099-DA, 1099-MISC, or 1099-B does not replace your own records. Compare each form with your complete Crypto.com and wallet history before filing.

Some filers use tax-loss harvesting to realize losses that offset capital gains. Under current federal law, the Section 1091 wash-sale rule generally applies to stock or securities rather than ordinary spot crypto, although tokenized securities and other digital assets treated as stock or securities may be different.

Holding period matters too. A capital asset held for more than one year generally qualifies for long-term capital gains treatment, while an asset held for one year or less is generally short-term.

Both strategies require accurate lot, basis, and holding-period records. A trade made solely for tax reasons may also have consequences beyond the immediate tax result.

Learn more about how to reduce your crypto taxes.