The IRS has introduced stricter compliance standards, requiring more detailed reporting for digital asset transactions made on or after Jan. 1, 2025. Crypto Tax Calculator (CTC) is here to help, providing solutions to ensure our users can easily comply with this new IRS tax rule.

As you prepare to file your 2024 taxes, no immediate action is required. The new rule applies only to transactions made on or after Jan 1, 2025. For now, you can continue managing your 2024 tax reports as usual, whether you’re using the “Universal” or “By Wallet and Exchange” cost basis tracking method. If you’re unsure which method to use, refer to this guide for detailed guidance or consult your accountant.

To help you prepare, CTC’s Review page offers tools to easily review and reconcile transactions (check these guides for more details). Taking the time to review your 2024 transactions ensures your cost basis and balances are accurate, setting you up for smooth tax reporting in 2025 and beyond.

We’ve got you covered with features designed to make compliance effortless. If you have any questions or need guidance, feel free to reach out—we’re here to help!

CTC offers these features to make it easier for you to comply with the new IRS tax rules when filing your 2025 tax reports in 2026. These include the Lock Periods feature and the By Wallet and Exchange Cost Basis Tracking Method.

We are actively refining our features and developing a new workflow to ensure a smooth and easy transition for CTC users to comply with this new rule.

We’ll provide updates soon with more details on how to proceed. If you have any questions or need help, we're here for you! Feel free to reach out to us via the in-app chat in the bottom-right corner or send your inquiries to [email protected].