Digital assets · 1099‑DA
You extracted your 1099‑DA. Now finish the job.
A 1099‑DA shows what you sold and the proceeds — not what you paid. Without cost basis, your gains can get reported as “$0 basis” (aka: taxed on the full proceeds).
Runs in your browser. Import from wallets/exchanges. Export a tax report.
The practical reality
• Proceeds are on the 1099‑DA
• Basis comes from your full history
• Reconcile → calculate gains/losses
• Export a filing-ready report
Why this matters
The IRS cares about gains, not proceeds.
Proceeds are just the sale amount. Cost basis is the proof of what you actually invested — so your taxable gain is correct.
Missing basis usually means you overpay.
If basis is treated as $0, your “gain” becomes your entire proceeds. That can turn a small profit into a big tax bill.
It won’t be on your 1099‑DA.
Exchanges report what you sold. What you paid comes from wallet transfers, other exchanges, and older history — the stuff that lives outside this one form.
What Koinly does (the practical next step)
Koinly connects to your wallets and exchanges, reconstructs your full transaction history, and calculates cost basis using methods like FIFO / HIFO / LIFO. Then it generates a tax‑ready report you can use for filing.
How TaxClaw fits in
TaxClaw extracts your 1099‑DA data locally. Koinly reconciles cost basis. Together you have everything you need to file.
Get your cost basis right before you file.
You already did step 1 with TaxClaw — this is the fast way to turn proceeds into actual gains/losses.
TaxClaw may earn a commission if you sign up for a paid Koinly plan via links on this page.