Does Kraken report to the IRS?

Yes, Kraken reports to the IRS. Like other custodial exchanges, it now files Form 1099-DA for US clients' crypto sales, and it has long sent Form 1099-MISC for rewards income above a threshold. The forms in general are explained in crypto tax forms, and Coinbase's version of this question is in does Coinbase report to the IRS.

Does Kraken send a 1099-DA?

Yes, from tax year 2025. Kraken says it goes to US tax residents with a US or US territory address on December 31, 2025 who hold an account with its US exchange entity and are not exempt. It covers activity on Kraken, Kraken Pro and Krak, including:

• selling crypto for dollars or for other crypto, stablecoins included
• sending crypto to someone else through Krak, which Kraken treats as a disposal
• liquidations, which count as sales

There is no minimum amount. Kraken stresses that the form reports gross proceeds only, which are not the same as a gain or loss. Wrapping, liquidity provision, staking and lending are not currently reported on it. Kraken uses UTC time, so late December 31 trades can land in the next tax year.

Does Kraken report cost basis?

For 2025, the copy sent to the IRS shows proceeds without basis. Kraken's client copy adds acquisition dates, cost basis and gain or loss for information, worked out on a first in, first out basis, but that part is not filed with the IRS. Kraken tracks basis only within the same account, so coins transferred out and back in are treated as new deposits. From tax year 2026, it will also report cost, acquisition date and gain or loss for positions acquired on or after January 1, 2026, in line with the IRS rule that basis reporting starts with certain 2026 transactions. See what is crypto cost basis.

Does Kraken send a 1099-MISC?

Kraken says Form 1099-MISC reports staking rewards, airdrops, deposit rewards and referral rewards in Box 3, other income. It is filed with the IRS only when the year's total reaches 600 dollars, and Kraken combines accounts under the same name and tax ID. Below that, clients get the figure for their records. Kraken issued no 1099-MISC for 2024 because it had paused US staking in 2023, and it has since restarted the program.

Where do you find Kraken tax documents?

Forms appear in the Tax Center on Kraken.com and Pro.Kraken.com, not in the mobile apps. Kraken says it issues them as its systems allow, without a fixed date, and emails clients who will not receive one. It keeps forms for about seven years and may send a copy to your state. The optional Tax Center is run with CoinTracker.

The IRS says digital asset transactions must be reported whether or not they produce a gain or loss, so a missing form does not remove the duty. More is in how does the IRS know about your crypto.

Rules differ by country and change often. Check the tax authority or a qualified professional for your own situation.