Trump is back, and his presidency will revolutionize crypto. With plans to integrate Bitcoin into U.S. Systems - $BTC will skyrocket to $1M. Have you prepared for the bull run of 2025?

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The IRS has rolled out new regulations for crypto tax: Rev. Proc. 2024-28 In other words, if you hold crypto, it’s time to pay attention. Here’s what you need to know. 👇 If you've historically used the Universal cost basis tracking method, it's time to prepare for a change. Starting January 1, 2025, the Per-Wallet cost basis tracking method will be the only accepted approach. Why does this matter? 🔹 There are only two accepted methods of transitioning from Universal to Per-Wallet tracking. 🔹 Keeping detailed, wallet-specific records is now crucial for filing accurate taxes. 🔹 Reporting incorrectly could result in penalties, so getting this right is important. What you need to do 👇 CoinTracker provides an automated solution for users to transition from Universal cost basis tracking to Per-Wallet tracking. To get started, simply navigate to your tax settings and set your Tax Lot Allocation Method before end of year. Starting January 1, 2025, you will have the option to automatically transition your universal tax lots to specific wallets based on the Tax Lot Allocation Method you selected. By selecting your Tax Lot Allocation Method before January 1, 2025, and migrating your tax lots from Universal tracking to Per-Wallet tracking before filing your 2025 taxes in 2026, you may qualify for safe harbor protection on your tax lot allocations. When do these changes take place? The new tracking requirements apply to tax years beginning after December 31, 2024. This means the changes will affect your tax filings starting with the 2025 tax year. Taxpayers are encouraged to begin adjusting their record-keeping practices now to ensure compliance when the new rules take effect. We will continue to closely monitor and update you regarding any new changes to US crypto tax regulations that may impact your account. How CoinTracker helps: We automatically track your crypto transactions across wallets and exchanges, helping you stay compliant while making the process as smooth as possible. 🧘 Tax rules may change, but staying organized doesn’t have to be a headache.

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