Covered vs. noncovered digital assets

For sales after 2025, brokers must report basis for digital assets that are covered securities, generally digital assets acquired on or after Jan 1, 2026 in a customer's account with the broker and held there until sale. For noncovered assets, basis reporting is voluntary; a broker who checks box 9 isn't penalized for basis it reports incorrectly. Source: 2026 Instructions for Form 1099-DA.

What this means in practice: coins you bought before 2026, or moved in from another wallet, will often show blank basis. You still need your own records for those sales. The reconciler flags these rows.

Qualifying stablecoins and specified NFTs may use optional reporting methods with less detail (same source).