How to file Novig taxes, step by step.

Open Live Chat in the Novig app and ask for your trading history, naming the period. For a tax year, that is January 1 to December 31. Novig’s Tax Reporting article describes the request: requested through Live Chat with the period you need; 1 to 2 business days. Keep each statement as Novig sends it.

Before August 4, 2026, Novig ran a sweepstakes model; earlier trading and payments data is emailed on request. Novig’s historical data article gives the path in the app:

1. Profile
2. Settings (gear)
3. Account Preferences
4. Request Historical Data

The data is emailed. A deposit or withdrawal made after August 4, 2026 needs a request to support.

A 2026 year that spans August 4 has activity in two places: this email for the earlier period and the trading history statement for the later one. Keep the two apart, since they come from different products.

Novig’s Help Center says a form goes out when calendar-year redemptions reach $2,000 and net redemptions are above zero, and that opening it asks for the last 4 digits of your Social Security Number. That article calls net redemptions “the standard reporting method for sweepstakes platforms”, and Novig has not said whether the rule carries over to exchange trades.

The ledger from Step 4 counts what each position made or lost, so the two figures can differ in either direction. Both of Novig’s delivery dates, and what the form leaves out, are on Novig tax forms.

Novig’s API reference returns an account’s fills, transactions and transfers to a management::read key, which is one way to fill Step 4 without waiting on a statement. What each key reaches is on Novig API keys.

Novig charges its fee per fill to the taker. There is no IRS guidance on it; of the people we’ve seen file, the fee is counted in the cost or proceeds of the position it came from. How it is computed is on Novig fees.

Positions that end in an unusual way

Apart from a sale and a $1 or $0 settlement, three Novig endings close a position. Each becomes a row with its own close date and proceeds.

Early Payout

With opposing positions on one game, the part of the payout that is the same whichever side wins, credited at once and listed as Instant Payout

Source

Fair Value Settlement

At the price just before the disrupting news; “a settlement, not a refund”

Source

Voided or pushed parlay legs

Settled to fair market value

Source

Credits and balances

Maker Credits and Referral Credits are not fills. Keep each as its own dated line beside the positions. Portfolio Balance is not a result at all, since it adds open positions and credits to cash. How each credit is treated on each route is on Novig taxes.

There is no IRS guidance on how event contracts are taxed. Each route takes the same ledger to different forms, and treats a position open at December 31 differently:

The IRS forms are Form 8949 and Form 6781. On the Section 1256 route, the December 31 price can be read from Novig’s daily market data. The forms of each route are walked through here:

• Form 6781 for event contracts
• Form 8949 and capital gains
• The 90% gambling-loss limit from 2026

The same worked year under all three routes is on Novig taxes. A return already filed without its Novig activity can be corrected on Form 1040-X, covered in amending a return.

What is the first step in filing a Novig year?

As of October 25, 2026, it is getting the trades, since no Novig form lists them. Novig’s Help Center offers a trading history statement through Live Chat, and its API returns an account’s fills to a read-only key.

Why doesn’t my Novig 1099-MISC match my trading profit?

Because it measures something else. Novig’s Help Center describes the figure as net redemptions (redemptions minus purchases), not net trading profit, in an article that calls this “the standard reporting method for sweepstakes platforms”. A trading result is what each position made or lost.

Do I need my Novig sweepstakes data for a 2026 return?

If you traded on Novig before August 4, 2026, that activity sits in a different source from the trading history statement: a request in the app, emailed back to you.

Can I file Novig taxes without a 1099?

A form is not what makes trades reportable. Member Agreement §5.9.1 says the member is solely responsible for the payment of all taxes, and the trades come from the trading history statement whether or not a form arrives.