I'm just learning about this now. Is it just reporting btc to the IRS?
Probably not going to do it
Discussion
No, it’s not reporting your btc to the it’s. It’s in the event that you sell some portion of your btc and need to account for your cost basis and what method of accounting you use moving forward. It’s a good reset really
To the irs *
You dont need to report anything now you just need to make a record of how your basis is allocated for yourself at a given point in time. I recommend this video:
Thanks