
Peapicker
9.7K posts

Peapicker
@LittlePeapicker
Pipefitter/Welder • Wife • Step-mom • Human | Crypto degen • AI explorer | Rooted in tradition; stepping into tomorrow. 🚴♀️







I thought I was super clear in this post, but apparently yall are still freaking out about 1099-DA If that’s you? Read carefully and your stress will melt away. The IRS will receive a copy with your proceeds and no cost basis or gains/loss. They do not assume your cost basis is $0 They will not assume you owe tax on 100% of proceeds. Your records in your crypto tax software can be used to justify your tax filing. But you should make sure your proceeds on form 8949 match the proceeds on form 1099-da before filing. Your version of 1099-da will have incorrect cost basis and gains/losses. That doesn’t matter. IRS never sees it. You can ignore it. Literally all that matters is the proceeds you report match + that you keep accurate records in tax software That way you have backup if the IRS comes sniffing.


































