Yes. Not receiving a 1099 does not mean you have no filing obligation. Under U.S. tax law, the responsibility for reporting cryptocurrency transactions falls on the taxpayer. Whether an exchange issues a 1099, and which type it issues, only affects the scope of information reporting — it does not change whether you must report. Binance.US only generates tax forms when certain thresholds or transaction types are met. If you did not receive one, it more likely means your activity did not trigger its form-issuing conditions, not that your transactions are exempt from reporting.
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When Binance.US Issues a 1099
Binance.US currently deals with two types of crypto-related 1099 forms, each with different triggers.
1099-MISC applies to "income-type" activities, such as staking rewards and referral bonuses. The threshold is $600 of such income in a tax year. Starting with the 2026 tax year, the threshold increases to $2,000. Below the threshold, no form is issued.
1099-DA is a new digital asset broker reporting form introduced starting in 2025. It applies to disposals such as selling, exchanging, or spending digital assets. Binance.US states that if you sell, exchange, or use digital assets, you should receive a 1099-DA, with no minimum dollar threshold. In other words, even selling just a few dozen dollars' worth could theoretically trigger one.
But "should be issued in theory" and "actually received" are two different things. If you only bought, held, deposited, or withdrew on Binance.US, with no sales or exchanges, and did not reach $600 in staking/referral income, neither form will be generated. This is exactly why many people do not receive a 1099.
Transactions That May Still Need Reporting Even Without a Form
IRS rules are clear: you must report digital asset income, gains, and losses whether or not you receive a 1099-DA. The key question is not "do I have a form?" but "did I have a reportable event?"
On Binance.US, the following situations require you to calculate and report on your own, even without a 1099:
Selling crypto for U.S. dollars. This is the most typical capital gain or loss event. The fact that Binance.US did not issue a 1099-DA only means the platform did not generate that form — it does not mean the sale did not happen.
Crypto-to-crypto exchanges. Trading BTC for ETH, or using USDT to buy SOL, is viewed by the IRS as disposing of one asset and acquiring another. Even if you never converted any coin back to dollars, if the asset you sold appreciated relative to your cost basis, you may have a taxable gain. This is one of the most commonly overlooked events in crypto tax filing.
Paying with crypto. Using coins to buy goods, pay for services, or cover platform fees beyond on-chain gas also constitutes a disposal.
Receiving staking or referral rewards. Even if such income is under $600 for the year and Binance.US does not issue a 1099-MISC, the income is still taxable as ordinary income at fair market value on the date you received it. The threshold only determines whether the platform issues a form, not whether the income is taxable.
What You Actually Need to Do
Log in to Binance.US and download your Transaction History for all years from the Tax Reports section. Even without a 1099, this CSV or report will contain your buy, sell, exchange, and reward records. Compare it against your own records to confirm whether any disposals or income events occurred.
If you only bought, held, and transferred in or out (without selling or exchanging), and did not have staking/referral income reaching reportable levels, then your Binance.US activity may indeed have no taxable events to report. But if you also had activity on other platforms or wallets, you need to consider everything together.
If you did sell or exchange, you need to determine the cost basis for each disposal yourself. The 1099-DA that Binance.US issues for the 2025 tax year (if you received one) typically only reports gross proceeds, not cost basis — especially for assets transferred in from external sources or acquired before 2026. Without a 1099-DA, cost basis must be reconstructed entirely from your own records or third-party tax software.
Binance.US officially states that it does not provide tax advice and cannot issue a letter certifying that you have no 1099. If you are unsure about your specific situation, consult a qualified tax professional rather than waiting for a form that may never arrive.
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References
- Binance.US·1099 Tax Forms (1099-MISC & 1099-DA): Frequently Asked Questions, 2026-11-02
- IRS·Understanding your Form 1099-DA, 2026-11-02
- IRS·Reminders for taxpayers about digital assets, 2026-11-02
- Binance.US·How to download tax forms 1099-MISC and 1099-DA, 2026-11-02
- CNBC·Avoid these 3 common crypto mistakes when filing your taxes, says CPA, 2026-11-02
- Koinly·Binance US 1099-DA Tax Forms Explained, 2026-11-02
