Reminder: From January 1, 2025, US exchanges will automatically report crypto sales to the IRS. Clear records and original purchase proof will help avoid potential tax issues.
hey all, i just came across this thread and was wonderin if anyoneelse got plans on how to best handle this change. i’ve been a bit relaxed bout keeping those records, but now with the enforcement coming up, im thinkin its high time i untangle my possdates. has anyone found a surefire way to organise tx receipts and reg proof? maybe some software or method that’s kept you sane. also, any tips on scrolling through old tx without losing your mind? would love to hear ya thoughts, cuz im kinda new to this whole detailed record keeping biz. cheers!
hey, ive tried a free tracker app and a basic spreadsheet for my receipts. it’s not fancy but doing periodic device uploads helps me avoid chaos. sometimes, a little routine beats starting from scratch at the last min.
After facing a similar issue last year when preparing for tax season, I revamped my record keeping process well ahead of the new regulatory changes. I integrated my transaction history with a robust tracking tool that automatically downloads and organizes receipts and purchase data. This not only helped ensure the integrity of my records but also made retracing transactions much more straightforward. I opted for secure cloud backups to safeguard this data, which has proven invaluable. Taking these steps early can substantially reduce future complications when the exchange reporting becomes mandatory.