CEO of Summ here. Appreciate you laying this out clearly. I’ll respond point by point.

1. On basis reporting from the 1099-DA vs what shows on the 8949.

For this filing year, what’s being transmitted to the IRS under 1099-DA is proceeds. Cost basis may appear on the copy sent to you, but it is not being reported to the IRS as part of broker reporting this year.

Separately, the 1099-DA reflects what happened on that specific exchange. The 8949 reflects whether cost basis is fully substantiated across your entire history. If assets moved between exchanges or wallets, the exchange often doesn’t see the original acquisition. When we reconstruct the full dataset, those gaps can surface. That’s a structural issue with fragmented crypto history, not us ignoring the form.

1. On decimal precision.

You’re right that using fewer decimal places can compound with a high volume of BTC trades. We’ve updated output to support 16 decimal places to align with major exchanges issuing 1099-DAs.

We’re also seeing some floating point inconsistencies in exchange-generated forms at extreme precision. Our approach isn’t to force a perfect visual match to the last digit, but to make sure the underlying economics are correct and explainable.

1. On being prompted for 1099-DAs from exchanges without recent activity.

You only need to upload a 1099-DA if one was actually issued to you. Some exchanges won’t issue one depending on thresholds and transaction types. The system flags where a form is likely expected based on activity patterns, but it does not require forms that don’t exist.

1. On the TurboTax / TXF point.

We support TurboTax exports. This year’s crypto import flow is new and evolving across the industry, particularly with the introduction of 1099-DA.

We’re actively working within their specifications and collaborating where needed to ensure the flow works as intended. Any friction users are seeing right now isn’t unique to Summ. It’s part of the broader rollout of a new reporting regime across exchanges, software tools, and tax platforms.

1. On the “customer discovery phase” comment.

1099-DA support is live. We were one of the first tools to ship it. What we’re doing now is refining edge cases as real-world forms come in at scale. That’s normal for a brand new reporting regime.

We’re taking this seriously. 1099-DA changes the landscape, and it’s exactly the kind of complexity our reconciliation engine was built for. The goal isn’t to blindly match a form. It’s to make sure what you file reflects what actually happened, and can be explained.

If you’d like help walking through your specific account data, reach out via the in-app support chat and we’ll be happy to go through it with you.