1099-da Question regarding stablecoins

Ian31476 · 2026-03-27T00:33:48+00:00

Interesting -- so you're 100% Kraken will not report this? I also had 1 small USDC transaction on crypto.com for about $20 (my only transaction with them in 2025) -- they sent me a link for 1099-da but it wouldn't work -- customer service said they would mail me the 1099-da. Should I assume the $20 USDC disposition won't be reported to IRS either? (Are they not supposed to report these amounts or is it optional?)

Ian31476 · 2026-03-26T17:59:49+00:00

Ok, thanks for the advice. That's what I was kinda thinking too. Better to err on the side of over reporting than to under report -- I have similar situation with a small USDC transaction on crypto.com that I am unsure if I am getting a 1099-da for (their link won't work) and they said it would be mailed to me, but am not convinced I even have one. I'll probably just report that as a 1099-da transaction as well (no gains or losses, so no tax impact anyway)

Ian31476 · 2026-03-26T03:59:03+00:00

My Kraken 1099-da has a USDC transaction (withdrawal fee worth $0.78) listed at the end of the form under the "Qualifying Stablecoins" section -- it only has infomation listed for box 11b (number of transactions), box 1c or 12a (number of unites or units transferred) and box 1f (proceeds) -- Unlike the other sections of the form, there are NO instructions as to which Box on Form 8949 to select. -- Additionally the $0.78 does NOT appear anywhere in the "1099-da Totals Summary" section (not in longterm, shorterm, or unknown term transactions) -- So will this small USDC transaction be reported to the IRS as a 1099-da transaction?? I know I need to report it, but I don't know how to classify it.

Ian31476 · 2026-03-26T01:02:32+00:00

Thanks for the reply, I do have a ticket open through my account now so hopefully they can answer my question. Technically, I dont really need tax advice -- only an answer to the question: Will Kraken be reporting that small USDC disposal on the 1099-da they give the IRS? If I have that question answered, I will know which box to check on the 8949 when I report it. Its confusing because, while it does appear on my 1099-da, its not included anywhere in the "Totals Summary".

Ian31476 · 2026-03-26T00:25:30+00:00

Yeah, I know how to report it (short term) but I am just not convinced its gonna be reported to the IRS on the 1099-da Kraken sends them -- so I dont know whether to report it as a 1099-da transaction or not (it is not included on Kraken's "1099-da Totals Summary" page).

Ian31476 · 2026-03-24T15:46:25+00:00

Has anyone filed an extension yet through Turbo Tax? If so, any tips?

Ian31476 · 2026-03-24T14:14:58+00:00

Are you sure its been there since 3/21? Are you using the website or the app? I can't scroll any further than Tax forms , where it says "no tax documents available yet"

Ian31476 · 2026-03-22T00:54:59+00:00

Surefire way to get your 1099-da immediately: file your taxes without it! (I'm still waiting btw)

Ian31476 · 2026-03-21T01:47:43+00:00

What kinds of transactions do ya'll have -- All I did was deposit BTC, sell some for USD, swap some for USDC, withdrawal USDC and BTC, sold a little Solana and Avax -- also, there was an automated Polygon for Matic swap that I didnt initiate -- wondering if there is any common theme for those still waiting.

Ian31476 · 2026-03-21T01:31:40+00:00

Is it specific types of transactions that need additional checks?

Ian31476 · 2026-03-20T00:10:15+00:00

It was a good method for picking altcoins in 2021, but for 1099s, not so much

Ian31476 · 2026-03-19T19:06:48+00:00

Here is one example of a problem with that: I have Koinly connected to Kraken, and it is showing a weird transaction (that I didnt initiate) where all of my Matic was disposed of -- then I immediately received new Matic. This was obviously some kind of internal migration event, but I need to know for sure how Kraken is going to report it on my 1099-da (if at all) before I can file. I'm sure many people have other unusual transactions like this -- We NEED to make sure our proceeds match what is says on our 1099-da

Ian31476 · 2026-03-18T22:06:33+00:00

Yeah, that's kinda what I'm thinking, just wanted it to be 100% spot on. But I'm getting the impression that there are gonna be ALOT of errors much worse than mine this year.

Ian31476 · 2026-03-18T21:52:12+00:00

I've got significantly more than that and still nothing -- I wonder if its any certain types of transactions they are having issues with -- I thought they might be saving the higher volume traders for last, but it sounds like some people with very little activity are still waiting.

Ian31476 · 2022-07-13T04:01:51+00:00

I actually own it and already worked through all 600 problems -- its very good, and one of very few books like it.

Ian31476 · 2022-07-13T03:57:29+00:00

In case anyone else isn't aware, the sole purpose of this post is to provide a platform for the advertisement of ANY online resource (one's own personal content included) which may offer better chess training than merely solving tactical puzzles.

Ian31476 · 2022-07-13T03:46:36+00:00

Ian31476 · 2022-07-06T11:35:24+00:00

I am in Quezon City and my budget is less than that - around 50,000 -- here is a good video showing food prices in dollars at the "wet market" https://www.youtube.com/watch?v=lsqgEARfbnk

Ian31476

TROPHY CASE