Gemini Users Await Delayed 1099-DA Forms | Frustration Grows Amidst Uncertainty
Edited By
Aisha Malik
A wave of discomfort is rising among Gemini’s people as they wait for their 1099-DA forms, crucial for tax filing. Reports indicate that many expected to receive these forms by February 15, but they remain unavailable. Users are understandably anxious, as unclear communications surround the status of these forms.
Context of the Delay
While the 1099-DA serves primarily as an informational document for the IRS, it becomes necessary for tax preparation. "I entered all my info manually into TurboTax, but I’d rather not file until my 1099-DA matches everything," one user expressed, highlighting a common sentiment of unease regarding potential filing discrepancies.
User Concerns and Responses
Several comments spotted on forums suggest that exchange delays aren't limited to Gemini. Here are three primary observations from users:
Timeliness of Other Exchanges: One user noted that Robinhood released their forms on February 12, raising questions about Gemini's operational delays.
Uncertainty About Deadlines: Another mentioned that some exchanges might not issue forms until mid-March, adding to the worries of delayed tax filing for many.
Extension Filed: In a recent update, the announcement was made that Gemini has filed for a 30-day extension to issue the 1099-DA forms for certain accounts. "We are working hard to get outstanding statements issued within the next 10 business days," they confirmed.
"This situation has left many of us waiting on pins and needles," one frustrated user commented, reflecting the ongoing angst surrounding this matter.
Public Sentiment
Frustration seems to be the dominant feeling among the community. While some users are hopeful for a swift resolution, the uncertainty has clearly sparked confusion.
Key Insights
● Many expected 1099-DA forms by February 15, 2026, but delays continue.
● "Some exchanges are delayed up until mid-March," a user suggests, mirroring sentiments of impatience.
● Gemini aims to dispatch outstanding forms within 10 business days, hinting at a potential resolution soon.
Despite the delays, the community waits with bated breath. Will this impact how people approach their tax filings this year? Users are certainly keeping a watchful eye.
What Lies Ahead for Tax Filers
With the impending delays on 1099-DA forms, there's a strong chance that many will experience extended anxiety around their tax filings this year. Gemini has indicated a goal to distribute outstanding forms within the next 10 business days, which could alleviate some stress for its people. However, if issues persist, an estimated quarter of filers may resort to filing extensions to avoid penalties, especially with certain exchanges expected to issue forms as late as mid-March. The current climate suggests that many will still have to scramble as tax deadlines approach, mirroring the challenges seen in previous years when crypto tax reporting faced delays from various platforms.
A Historical Echo
Reflecting on past situations, one might recall the delays experienced by manufacturers during the early tech boom of the late 1990s. Companies like Dell faced challenges in fulfilling orders amidst sky-high demand, leaving customers in a similar lurch. Just as those tech enthusiasts were left awaiting products that promised to elevate their productivity, today's tax filers find themselves in limbo, relying on a system that still struggles to balance growth and logistical efficiency. In both cases, the rush of innovation outpaced operational readiness, demonstrating how excitement can often outstrip practical execution.