Starting with the 2025 tax year, BVNK will issue IRS Form 1099-DA to certain customers.
This new form will report information pertaining to the sale and exchange of crypto. BVNK will provide tax year 2025 Form 1099-DA to you no later than February 27, 2026 and you will receive an email when it is ready for download.
For tax reporting purposes, a sale includes:
- Crypto-to-crypto exchanges (Example: exchanging Bitcoin for Ethereum)
- Crypto-to-fiat exchanges (Example: converting USDC to USD)
- Any transaction where you receive an amount from the sale or exchange of a digital asset
BVNK uses Eastern Time for tax reporting. If your trade occurred after midnight ET on Jan 1, 2026, it will be on your tax year 2026 Form 1099-DA.
Cost basis reporting
For tax year 2025, Form 1099-DA will only include proceeds from the sale or exchange of your crypto assets.
Correct information on your form 1099-DA
If the name, tax ID, or state listed on the Form 1099-DA provided by BVNK is incorrect, contact our support team to request a correction.
Note: BVNK can only issue a corrected 1099-DA if there is a change in state residency - no other address changes apply.
Disclaimer:
You must keep your own records to track and report your cost basis information on your income tax return. We cannot provide tax advice. The regulatory framework for taxation of cryptocurrencies differs by geography. Contact your tax advisor for further information about your individual tax situation.
More information on the Form 1099-DA is available from the IRS, here.