Do I need to enter transfer data?

Do I need to enter transfer data?

Transfers (like deposits and withdrawals) must be added into Bitcoin.Tax. 

For US users, starting 1 Jan 2025, everything is calculated using wallet accounting (wallet by wallet). This is different than past years where we used universal accounting, everything treated as one large pool.

For 2024 and earlier, you didn't have to add transfers, unless there was a spend of crypto for a network or other withdrawal fees. Alternatively, you could have just added the fee portion as a Spend.

When a transfer is added in 2025 and onwards, there must be a pair of a WIthdrawal entry in the Spending tab and a Deposit entry in the Income tab. The Deposit entry's date must be on or after the Withdrawal entry and the symbol and volume must match. Any fees can be added into the Withdrawal, but should not be included in the withdrawn volume amount.

When a matching pair transfer is processed we will calculate the withdrawn asset's cost basis and use that to set the basis of the matching Deposit for the destination account.

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