Why Your 1099-DA Shows Millions in Crypto Proceeds (And What It Really Means)
About this episode
If your 1099-DA shows numbers that seem way higher than your actual crypto profits, you’re not alone.
This is one of the most common points of confusion for crypto investors. Many exchanges report total proceeds instead of cost basis, which can make your gains look far bigger than they really are.
In this episode, Clinton Donnelly explains why this happens, how cost basis actually works, and what the IRS expects you to report.
You’ll also learn why moving between wallets and exchanges can break tracking, and what kind of records you need to keep in case you’re ever audited.
If you’ve looked at your crypto tax forms and thought, “this can’t be right,” this will make it clear.
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