What is Form 1099-DA?

This article will explain what Form 1099-DA is and why you may receive one from Metal Pay.

Form 1099-DA, Digital Asset Proceeds From Broker Transactions, is an IRS tax form used by digital asset brokers to report certain sales and other dispositions of digital assets.

Beginning with transactions occurring on or after January 1, 2025, digital asset brokers are required to report certain transaction information to customers and the IRS.

The reporting requirements are being phased in:

• 2025 transactions: Brokers generally report gross proceeds from reportable digital asset transactions without cost basis.
• 2026 and later transactions: Brokers may also be required to report cost basis and additional information for applicable transactions.

If Metal Pay is required to report your transactions, you may receive a Form 1099-DA after the end of the applicable tax year.

Metal Pay works with our partner TaxBit to support accurate tax reporting.

Note: Receiving Form 1099-DA does not necessarily mean you owe taxes. The form reports information about your digital asset transactions but does not determine your individual tax liability.

Metal Pay does not provide individual tax advice. If you have questions about how your digital asset activity should be reported, please consult a qualified tax professional.

Important Tax Disclosure & Disclaimer
For Informational Purposes Only
The information, guides, and materials provided on this platform regarding IRS Form 1099-DA and Form W-9/W-8 tax requirements are for general informational purposes only.
Metal Pay does not operate as, nor does it represent, the Internal Revenue Service (IRS) or any government agency

Need more help?

If you have questions about your Metal Pay tax documents, please contact our Client Services team.