Crypto Reporting for taxes on hold

The Senate repealed a Biden era ruling that required crypto trading platforms to report customer trading activity to the IRS starting in 2027. The House has already indicated agreement with the Senate ruling, and this will likely become law. This does not remove the requirement to report trading activity gains and losses on the tax return. Clients are encouraged to acquire software that can track their frequent purchases, sales, and other incentives that are treated as taxable investing income.