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What Treasury Decision 10000 requires
Treasury and the IRS issued the final digital-asset broker-reporting regulations as Treasury Decision 10000 (TD 10000). The regulation was published in the Federal Register on July 9, 2024, and took effect September 9, 2024. Its provisions have different applicability dates.
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For covered transactions, brokers must file information returns with the IRS and furnish statements to customers. The reporting can include gross proceeds and, when the rules require it, adjusted basis. TD 10000 also contains special rules for certain real-estate transactions in which digital assets are used; those transactions are distinct from ordinary exchange sales, and their specific reporting requirements depend on the transaction and applicable date.
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When proceeds and basis reporting begin
| Reporting item | Start date under TD 10000 | What it means |
|---|---|---|
| Gross proceeds | Covered broker sales on or after January 1, 2025 | The broker reports the proceeds from a covered sale. Proceeds alone do not show whether the customer made a taxable gain or loss. |
| Adjusted basis | Specified transactions on or after January 1, 2026 | Basis reporting is phased in. Whether a broker must report basis depends on the rule’s conditions, including relevant acquisition and holding with that same broker. |
These are broker-reporting start dates, not dates when taxpayers first became responsible for reporting taxable digital-asset activity. The applicable definitions, exceptions, and transaction rules are detailed in the regulation and the IRS broker-reporting FAQs.
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What Form 1099-DA tells you—and what it does not
Form 1099-DA is the IRS information return for reporting proceeds from covered broker transactions involving digital assets. A broker sends information to the IRS and furnishes a statement to the customer. The proceeds figure is not the customer’s taxable profit: determining gain or loss generally requires comparing proceeds with adjusted basis and accounting for the transaction’s other relevant details.
For 2025 activity, the IRS says most Forms 1099-DA will not include basis. Brokers were required to furnish 2025 statements by February 17, 2026, according to IRS Tax Tip 2026-07, published January 28, 2026. If you received a statement, compare it with your transaction history and records rather than treating it as a complete tax calculation.
What to do if your 1099-DA has no cost basis
- Identify the asset and sale shown on the form, then match it to your own transaction records.
- Find the acquisition details needed to establish your basis, such as when and how you acquired the asset and what you paid, using records you can substantiate.
- Reconcile the reported proceeds with your records and determine the result under the tax rules that apply to your circumstances.
- Keep your supporting records with your tax documents. IRS FAQ guidance says a broker may consider customer-provided acquisition information if it is reasonably reliable, but the broker is not required to do so.
A missing basis on the broker statement does not mean your basis is zero, and a reported amount should not be assumed correct without checking it against your records.
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Do you have to report crypto if you did not get a 1099-DA?
Yes, if you had reportable digital-asset income, gains, or losses. The IRS says taxpayers must report applicable amounts whether or not they receive Form 1099-DA. The form is a broker’s information return; it does not determine whether a transaction is taxable or replace the taxpayer’s own return and records.
Which brokers and transactions are covered?
TD 10000 applies to brokers and covered sale or exchange transactions under the regulation’s definitions. It does not make every wallet, transfer, platform, or protocol subject to identical reporting.
- Noncustodial brokers: IRS guidance says the final rules do not cover noncustodial brokers that do not take possession of the digital assets being sold or exchanged.
- Transfers and other activity: A transfer or interaction with a platform does not automatically mean a Form 1099-DA must be issued. Whether reporting applies depends on the activity, the broker’s role, and the regulation’s definitions.
- Real estate: The regulation includes special rules for certain real-estate transactions involving digital assets; do not assume they work the same way as exchange-traded sales.
What broker transition relief does—and does not—change
IRS notices, including Notice 2025-33, provide temporary, specific relief for certain broker filing, furnishing, penalty, and backup-withholding obligations. The IRS summarizes backup-withholding relief for sales in 2025 and 2026. The relief is directed at broker obligations and does not suspend or waive an individual taxpayer’s duty to report taxable activity. The precise relief depends on the notice provision and transaction, so it should not be read as a general exemption.
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Separate DeFi rule was revoked
TD 10000 should not be confused with TD 10021, a separate December 2024 rule concerning certain DeFi trading front-end services. Following congressional disapproval under the Congressional Review Act, Treasury and the IRS said TD 10021 had no legal force or effect; the affected regulatory text reverted effective July 11, 2025. It is not an operative part of TD 10000.
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