Surgent's A Complete Guide to Reporting Form 1099-DA

Overview

For each digital asset sale that a broker has affected for a customer in 2025, the broker must complete Form 1099-DA. A broker includes any person who, in the ordinary course of a trade or business, stands ready to affect sales of digital assets to be made by others. This program covers the required rules for reporting digital asset transactions on Form 1099-DA.

Highlights

• Definition of a digital asset for purposes of Form 1099-DA
• What is a sale of a digital asset affected by a broker on behalf of another person?
• Mandatory 2025 reporting of gross proceeds information and voluntary reporting of basis information
• Treatment of sales of digital assets
• Who is a broker for purposes of Form 1099-DA?
• Information required to complete Form 1099-DA
• Reporting closing transactions and covered securities
• Who is a processor of digital asset payments?
• How many transactions to report on each Form 1099-DA and how many forms to file for each transaction
• Optional reporting methods for digital asset transactions
• Substitute statements for the Form 1099
• Reporting a disposition of digital assets held by a widely held fixed investment trust

Prerequisites

None

Designed For

Accounting and finance professionals who need to understand the rules regarding Form 1099-DA

Objectives

• Understand the rules relating to Form 1099-DA

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by Surgent (info@surgent.com). Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.