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General Operations

Tax Reporting & Compliance: FAQs

Documents & Delivery

Q: When will I get my 1099?
A: Forms are issued in early 2026 for the 2025 Tax Year. Each applicable form will be mailed to the address on file.

Q: How to access tax statements?  How to get tax reports?
A: Each applicable form will be mailed to the address on file.

Q: What tax forms are required? What tax forms are provided?
A: The platform supports Form 1099-DA for digital asset dispositions. It also supports 1099-MISC, 1099-DIV, and 1099-INT where applicable based on your account activity.

Data Methodology & Calculations

Q: How did you compute the income reported on the 1099?
A:  Our system reports income based on the specific type of activity, aligned with IRS classifications for digital assets, for example:

  • Capital Gains/Losses (Form 1099-DA): For the 2025 Tax Year, we report the Gross Proceeds from "taxable dispositions." This generally means any transaction where you exchange a digital asset for cash, services, or another digital asset (e.g., selling BTC for USD or swapping BTC for ETH).

  • Ordinary Income (Form 1099-MISC / 1099-INT): We report income from staking rewards, interest, or other earnings. This income is calculated based on the Fair Market Value (FMV) of the asset at the time you received it into your account.

Q: How to calculate tax basis?  Will my 1099-DA show my cost basis? 
A:

  • For Tax Year 2025: The Form 1099-DA you receive in early 2026 will not include a cost basis. The IRS has granted transitional relief for this year, so we are only reporting Gross Proceeds (the total value of what you sold). You should consult your own tax advisor or records to determine your specific basis for filing.

  • For Tax Year 2026 (Future): Forms issued in early 2027 will include both Gross Proceeds and Cost Basis for digital assets acquired on or after January 1, 2026, where we have full visibility into the acquisition details.

Compliance & Withholding 

Q: How to complete tax verification? How to verify tax status?
A: Please log in to your BitGo account. If your account requires verification you will see a prompt labeled "2025 Tax Season is here."

  • If you see the prompt: Follow the on-screen instructions to digitally certify your tax status (W-9 or W-8).

  • If you DO NOT see the prompt: No action is required at this time. It may be enabled for your account in the future as your tax situation changes based on our assessment.

Q: How to handle tax withholding?
A: The IRS released Notice 2024-56 which removed the requirement for backup withholding in 2026. However, completing the tax verification flow (if prompted) ensures your account is compliant and prevents potential future withholding issues.

Q: How to get/provide a Tax ID number?
A: You provide your Tax ID (TIN) by completing the digital W-9 (for US persons) or W-8 (for non-US persons) form. This is done directly within the "2025 Tax Season is here" flow upon logging in.

Account Management & Updates 

Q: How to update tax residency?
A: Log in to your account.

  • Standard Process: If an update is required by our system, you will be automatically prompted to answer questions regarding your tax residency via the secure digital form.

  • Manual Request: If you believe you need to update your tax status immediately (e.g., you recently moved countries) but you do not see the prompt, please contact support@bitgo.com for assistance.

Q: How to submit tax information? How to update tax information?
A: For your security, BitGo only accepts this information through our secure digital form.

  • Do not email sensitive tax documents (like PDFs of W-9s) to support.

  • Wait for the "2025 Tax Season" prompt upon login. If you do not see it but need to make an urgent update, please contact support@bitgo.com to have your account status reviewed.

Support & Resolution

Q: How to resolve tax issues?  How to handle tax matters?
A: If you have questions regarding the platform's reporting, contact your BitGo representative or email support@bitgo.com. For questions on your specific tax circumstances, consult with your own legal, tax, and investment advisor.

Disclaimer: BitGo does not offer legal, tax, accounting, or investment advisory services. The information contained herein is for informational and marketing purposes only and should not be construed as legal, tax, or investment advice. You should consult with your own legal, tax, and investment advisor for questions about your specific circumstances.

About BitGo

BitGo is the digital asset infrastructure company, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have been focused on accelerating the transition of the financial system to a digital asset economy. With a global presence and multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, and millions of retail investors worldwide. For more information, visit www.bitgo.com.

©2026 BitGo, Inc. (collectively with its parent, affiliates, and subsidiaries, “BitGo”). All rights reserved. BitGo Bank & Trust, National Association (“BitGo Bank & Trust”) is a national trust bank chartered and regulated by the Office of the Comptroller of the Currency (OCC). BitGo Bank & Trust is a wholly-owned subsidiary of BitGo Holdings, Inc., a Delaware corporation headquartered in Palo Alto, California. Other BitGo entities include BitGo, Inc. and BitGo Prime LLC, each of which is a separately operated affiliate of BitGo Bank & Trust.

BitGo does not offer legal, tax, accounting, or investment advisory services. The information contained herein is for informational and marketing purposes only and should not be construed as legal, tax, or investment advice. You should consult with your own legal, tax, and investment advisor for questions about your specific circumstances.

Digital assets are subject to a high degree of risk, including the possible loss of the entire principal amount invested. Past performance and illustrative examples do not guarantee future results. The value of digital assets can fluctuate significantly and may become worthless. No BitGo communication is intended to imply that any digital asset services are low-risk or risk-free. BitGo is not a registered broker-dealer and is not a member of the Securities Investor Protection Corporation (“SIPC”) or the Financial Industry Regulatory Authority (“FINRA”). Digital assets held in custody are not guaranteed by BitGo and are not subject to the insurance protections of the Federal Deposit Insurance Corporation (“FDIC”) or SIPC. Custody and other digital asset services are subject to eligibility, jurisdictional, and regulatory restrictions. Availability of specific products and services may vary by location and entity.

BitGo endeavors to provide accurate information on its websites, press releases, blogs, and presentations, but cannot guarantee all content is correct, completed, or updated. Content is subject to change without notice. BitGo disclaims any obligation to update or supplement such information except as required by applicable law or regulation.

BitGo makes no representation that the information contained herein is appropriate for use in any jurisdiction where its distribution or use would be contrary to law or regulation or would subject BitGo or any of its affiliates to any registration or licensing requirements in such jurisdiction. Persons who access this information are responsible for complying with all applicable laws and regulations.