Over half of cryptocurrency investors don’t understand that selling digital assets triggers tax obligations, according to a 2026 survey by Coinbase and Cointracker.
The survey found that only 49% correctly grasp that crypto sales are taxable. Nearly a quarter mistakenly believe simple transfers initiate tax events.
Users averaged 2.5 platforms and wallets, with 83% using self-custodial setups. However, only 35% adjusted their cost basis, complicating tax reporting.
Coinbase noted that new 1099-DA forms could burden everyday transactions like stablecoin payments and gas fees, which are technically taxable but generate minimal tax revenue.
Experts say this move toward standardized reporting will aid long-term adoption, despite challenges in calculating cost basis. Former IRS agent and blockchain analyst Matt Price emphasized that this aligns crypto taxation with traditional financial products.
The 1099-DA forms aim to streamline compliance-though they may increase reporting complexity for individual traders.