New IRS regulation starting in 2025.
This coincides with the new accounting rules for corporations (thanks MicroStrategy).
The guidance in the article:
1. Send coins to an exchange and let them handle tracking.
2. Buy crypto tax reporting software. Keep track of your gains and losses.
3. Liquidate all crypto before Jan 1. Establish new cost basis. Keep detail records moving forward.
What's your thoughts Bitcoiners?
https://www.thetaxadviser.com/news/2024/oct/universal-accounting-for-digital-assets-concludes-but-safe-harbor-available.html
rare
npub1l5…jq78u
2024-12-16 12:27:19
Author Public Key
npub1l59ulrx34m5rle67ds8al32rs309hsl4p5nd9409cmfl55slnrqq8jq78uPublished at
2024-12-16 12:27:19Event JSON
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"content": "New IRS regulation starting in 2025. \n\nThis coincides with the new accounting rules for corporations (thanks MicroStrategy). \n\nThe guidance in the article:\n\n1. Send coins to an exchange and let them handle tracking. \n\n2. Buy crypto tax reporting software. Keep track of your gains and losses.\n\n3. Liquidate all crypto before Jan 1. Establish new cost basis. Keep detail records moving forward. \n\nWhat's your thoughts Bitcoiners?\n\n\nhttps://www.thetaxadviser.com/news/2024/oct/universal-accounting-for-digital-assets-concludes-but-safe-harbor-available.html",
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