BitcoinTaxes Blog IRS Rev. Proc. 2024-28 – Preparing for the 2025 IRS crypto reporting requirements

Starting January 1, 2025, as defined in Revenue Procedure 2024-28 the IRS requires all US taxpayers to track their cryptocurrency cost basis on a wallet-by-wallet basis. Currently, you can track your cost basis across all your wallets and exchanges together (known as the “universal” method). Starting January 1, 2025, you’ll need to track each wallet […] The post IRS Rev. Proc. 2024-28 – Preparing for the 2025 IRS crypto reporting requirements appeared first on BitcoinTaxes.