Crypto Taxes Just Leveled Up: 1099DA, New Reporting Rules, and How to Avoid a Mess
The Bad Crypto Podcast
Joel Comm and Travis Wright
4.5 • 1.2K Ratings
🗓️ 28 January 2026
⏱️ 28 minutes
🧾️ Download transcript
Summary
Tax season is back, and crypto reporting is getting a lot more… specific. We’re joined by returning guest Clinton Donnelly of CryptoTaxAudit to break down the biggest crypto tax changes affecting U.S. traders this year—what forms are coming, what the IRS will see, and the most common ways people accidentally trigger problems. If you’ve traded on U.S.-based exchanges, this episode is your wake-up call.
In this episode, we cover:
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Why crypto taxes are getting more complicated (and more visible)
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New 1099-DA reporting: what it is and what exchanges may report
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Why “proceeds vs. cost basis” matters (and where confusion hits)
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The Form 8949 change: crypto transactions being separated out
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The “match the proceeds” issue that can trigger nasty IRS letters
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New FIFO requirement by wallet/account (and why it can change your tax bill)
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Why audits can drag on for years (and what “audit-proofing” really means)
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Practical advice for staying compliant without losing your mind
The 3 big crypto tax changes Clinton highlights:
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1099-DA is here (for U.S.-based exchanges)
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Crypto gets its own lane on Form 8949 (more visibility for the IRS)
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FIFO by wallet/account becomes required (can reshape gains calculations)
Helpful link:
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Work with Clinton / CryptoTaxAudit: http://badco.in/tax
Support the show: https://badcryptopodcast.com
See omnystudio.com/listener for privacy information.
Transcript
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| 0:00.0 | Well, here we are once again. Yes, it's time to start thinking about taxes. Nobody likes to, |
| 0:07.1 | but there are some big changes afoot in the taxation world. And if you are investing in crypto, |
| 0:13.0 | you need to know what's up. And so we welcome back to the show, our crypto tax expert, |
| 0:18.7 | Clinton Donnelly, he's going to share all the latest with you. |
| 0:21.9 | You don't necessarily want to take notes, maybe take the transcript, drop it in the chat |
| 0:26.1 | GPT and say, all right, what do I need to do? |
| 0:28.7 | But we're going to dish it all to you today on this episode number 801 of the Bad Crypto |
| 0:35.1 | podcast. |
| 0:36.1 | Five, four, three, two, one, zero, all engine running. |
| 0:44.3 | Lift-off. |
| 0:45.5 | Who's bad? |
| 0:57.4 | Dude, I love that. |
| 0:59.8 | I think it's a good idea, folks, when you tune in to the show. |
| 1:02.4 | If you don't have time to listen to it, download it, |
| 1:06.3 | or just pull up the YouTube video and get the transcript and have a summary of it. |
| 1:07.0 | That's a pretty good idea. |
| 1:10.4 | Matter of fact, I think we might just do like three minute episodes and be like, |
| 1:11.0 | here's the summer of what we were going to say, but we didn't say any of that. So here's the |
| 1:15.6 | GPT summarized version as if you're 12 years old. But that doesn't get views or retention or |
| 1:22.5 | anybody to give a crap about the channel. Three minutes of retention, like what she said. |
| 1:26.3 | I actually find myself doing that more. |
| 1:28.3 | I see a video and I'm interested in the topic and it's 30 minutes long and I just go, |
... |
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