You will receive Form 1099-DA when you sell, exchange, or otherwise dispose of a digital asset. There are several options that you can use to enter transactions and information from Form 1099-DA. Once entered, the TaxAct program will complete Form 8949, Schedule D Capital Gains and Losses, and Form 1040, as applicable.

Manually Enter Form 1099-DA

To manually enter Form 1099-DA, follow the steps below.

Online

Dashboard

1. From within your TaxAct return, click Income.
   • On smaller devices, click the menu at the top left corner of your screen, then make your selection.
2. Click the Investments & Savings drop-down.
3. Click Add beside Cryptocurrency, NFTs & Other Digital Assets.
4. Complete the rest of the interview process.

Classic

1. From within your TaxAct return, click Federal.
   • On smaller devices, click the menu at the top left corner of your screen, then make your selection.
2. Click the Investment Income drop-down, and then click Gain or loss on the sale of investments and then Digital asset gain or loss (Form 1099-DA).
3. Click Add Another sale.
4. Complete the rest of the interview process.

Desktop

1. From within your TaxAct return, click Federal.
2. Click the Investment Income drop-down, and then click Gain or loss on the sale of investments and then Digital asset gain or loss (Form 1099-DA).
3. Add a new form or click Review to update an existing form.
4. Complete the remaining entries.

Enter Totals and Attach Form 8949 as a PDF

There are two exceptions to the requirement to report individual transactions from Form 1099-DA on the return. The data entry varies depending on whether the basis was reported to the IRS and whether adjustments are needed. See below for details on each exception type. The Form 8949 Draft instructions provide more information.

Note: For most 2025 digital asset transactions, basis will not be reported on Form 1099-DA.

Basis Not Reported or Adjustments Needed

To report the totals for transactions where basis was not reported to the IRS, or if there are adjustments needed, follow the steps below.

Online

Dashboard

1. From within your TaxAct return, click Resources.
   • On smaller devices, click the menu at the top left corner of your screen, then make your selection.
2. Under My Return, click Federal Search.
3. Click the Investment Income drop-down, and then click Gain or loss on the sale of investments and then Enter totals from a statement of transactions you will attach to your return.
4. Complete the rest of the interview process.
5. During the filing process, you will be prompted to attach your PDF. If you're unable to attach the PDF, you must mail Form 8453 along with the attachment. For paper returns, simply include the Form 8949 summaries in your mailing.

Classic

1. From within your TaxAct return, click Federal.
   • On smaller devices, click the menu at the top left corner of your screen, then make your selection.
2. Click the Investment Income drop-down, and then click Gain or loss on the sale of investments and then Enter totals from a statement of transactions you will attach to your return.
3. Complete the rest of the interview process.
4. During the filing process, you will be prompted to attach your PDF. If you're unable to attach the PDF, you must mail Form 8453 along with the attachment. For paper returns, simply include the Form 8949 summaries in your mailing.

Desktop

1. From within your TaxAct return, click Federal.
2. Click the Investment Income drop-down, and then click Gain or loss on the sale of investments and then Enter totals from a statement of transactions you will attach to your return.
3. Complete the remaining entries.
4. During the filing process, you will be prompted to attach your PDF. If you're unable to attach the PDF, you must mail Form 8453 along with the attachment. For paper returns, simply include the Form 8949 summaries in your mailing.

Basis Reported and No Adjustments

If basis was reported to the IRS and there are no adjustments needed, you can enter the totals on lines 1a (short term) and 8a (long term). If you choose to report these transactions on lines 1a and 8a, don't report them on Form 8949. You don't need to attach a statement to explain the entries on lines 1a and 8a and, if you e-file your return, you don't need to file Form 8453.

1. Start the Form 1099-DA data entry as detailed above.
2. On the Transaction Details screen:
   • In the Term and Type drop list, select either:
     • G - Short-term transaction in which basis was reported to the IRS (for short-term transactions)
     • J - Long-term transaction in which basis was reported to the IRS (for long-term transactions)
   • For the Description of Investment or Property, enter either:
     • Aggregate total for line 1a per IRS instructions (for short-term transactions)
     • Aggregate total for line 8a per IRS instructions (for long-term transactions)
   • Enter the Date Acquired as Various.
   • Enter the last Date Sold or Disposed, or 12/31/20YY to represent a year-end summary.
   • Enter the Sales Proceeds.
   • Enter the Cost or Other Basis.
3. Continue through the rest of the interview process. When you print your return, you will see the aggregate gain or loss reflected on Schedule D.

Related Links

Form 8949 and Form 1099-B - Enter Stock Transactions