We got Form 1099-DA with proceeds only and no basis. Is that normal for 2025?
Our U.S. entity sold crypto through a broker in 2025 and just received the first Form 1099-DA statement. It shows proceeds, but not basis, which made the finance team assume the form might be incomplete or wrong. The problem is that we do not want to ignore the form if this is actually how the first reporting year works.
What I need is a current-year answer. If most 2025 1099-DA statements do not yet include basis, then we need to switch immediately into our own basis reconstruction workflow rather than waiting for a corrected statement that may never come.
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