Welcome back! Ask questions, get answers, and join our large community of tax professionals.
  • Sign In
  • Elevate 2026 Pencil Banner
    cancel
    Showing results for 
    Search instead for 
    Did you mean: 

    1099-DA Stablecoin transacitions

    jsoles24
    Level 3

    My client has a 1099-DA that shows Stablecoin Transactions with proceeds of $31,222.89 in additional to 8949, Box H transactions. I know how to report the Box H transactions; however, where on the tax return do I report the proceeds from Stablecoin transactions?

    0 Cheers
    3 Comments 3
    Skylane
    Level 12
    Level 12

    Are they LT or Short? The DA workflow supports both. you should be able to summarize on the 1099DA worksheet and attach the transactions to the efile

    If at first you don’t succeed…..find a workaround
    jsoles24
    Level 3

    I'm not sure if it is LT or ST. There are 2 sections on the 1099-DA. 

    1. Summary of Trading - Shows 2 ST transactions with proceeds $3,691.91, cost basis $3,766.08,total loss is ($74.17)

    2. Summary for for Stablecoin Transactions

    1b - Name of digital asset - USDC

    1c - Number of units - 31,222.90055099999

    11b - Number of transactions - 18

    1f - Proceeds - $31,222.89

    0 Cheers
    Skylane
    Level 12
    Level 12

    Doesn’t sound like they have the basis… ask client

    If at first you don’t succeed…..find a workaround