▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
If you received a 1099-DA from Coinbase showing a large amount of proceeds — but no cost basis — don’t panic.
In this video, I break down:
• What the 1099-DA actually reports
• Why cost basis may be missing
• How to calculate your real capital gains
• When you might not owe anything at all
• Why transfers are NOT taxable
• What happens if you ignore it
The 1099-DA is informational. Your actual tax liability depends on your true cost basis and IRS Form 8949.
If you trade across multiple exchanges or use self-custody wallets, you may need crypto tax software or a crypto-aware CPA to reconcile everything properly.
As always, this video is educational and not tax advice.
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00:00 Take a Breath
00:52 What Is a 1099-DA?
01:44 Why Cost Basis Is Missing
02:59 How You Fix It
04:28 When You Don’t Need to Worry
06:40 Transfers Are Not Taxable
07:09 What Happens If You Ignore It?
07:49 Final Takeaway
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💡 DISCLAIMER
This content is for educational purposes only. I will never ask for your seed phrase. Never enter your recovery phrase into a website.
▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
Youtube version
