According to a Mars Finance report citing Cointelegraph, the U.S. Internal Revenue Service (IRS) has stated that for 2025 transactions, brokers generally need to report digital-asset sale proceeds, but in most cases they do not need to report the cost basis; taxpayers must still calculate gains and losses themselves. Starting in 2026, brokers will only be required to report the cost basis for qualifying digital assets. The IRS also emphasized that even if taxpayers do not receive a 1099-DA, they are still required to report digital-asset-related income and gains and losses. During the first tax season in the U.S. when the crypto 1099-DA reporting rules apply, some investors are facing issues such as missing transaction data and difficulty verifying cost basis. An August survey by Awaken Tax of 1,000 U.S. crypto investors found that 21% of respondents who have already filed taxes or plan to request an extension said they are still waiting for exchanges or crypto platforms to provide the information needed. Another 20% said their 1099-DA forms contain incomplete information or that they are not sure whether it accurately reflects their trading activity.