When preparing for your taxes, you should know that the 1099-DA form covering your 2026 sales will mark the very first time US brokers are required to provide cost basis information. Despite this new rule, you can expect this specific field to be completely blank for a large portion of your cryptocurrencies.
The reason for this is that the reporting mandate strictly applies to digital assets purchased on or after Jan 1, 2026, provided they never leave that original broker account before being sold. Therefore, if you decide to sell older coins, or if you trade assets that were previously moved into the exchange from an external wallet, your document will probably not display a cost basis.
The reason for this is that the reporting mandate strictly applies to digital assets purchased on or after Jan 1, 2026, provided they never leave that original broker account before being sold. Therefore, if you decide to sell older coins, or if you trade assets that were previously moved into the exchange from an external wallet, your document will probably not display a cost basis.