Crypto investors who don’t fill out this new tax form the right way could overpay on their taxes

MarketWatch

by Andrew Keshner

February 14, 2026

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Crypto investors face a new challenge with the IRS this tax season as exchanges like Coinbase and Robinhood begin issuing the 1099-DA form. This form, designed to report users' profits from digital assets to the IRS, is part of an ongoing effort to improve tax compliance in the cryptocurrency space. However, the form only provides half the information needed for accurate tax reporting, leaving investors responsible for completing the other half through their own calculations. Failing to do so could result in overpaying taxes or facing errors in their filings. The 1099-DA form includes details such as basis adjustments and cost-basis reporting, which are crucial for determining the correct taxable amount of cryptocurrency transactions. While this is a significant step forward from previous reporting methods,

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Originally published on MarketWatch on 2/14/2026