Has someone at Koinly had a chance to review the latest from the IRS?
Does this mean all the changes have been put on hold for a year? It definitely says that you don’t have to use FIFO in 2025.
Hi @Max_Voltage
The recent IRS decision clarifies that users in the U.S. can continue using any cost-basis method (e.g., FIFO, LIFO, or HIFO) for 2025. This provides more flexibility and removes previous uncertainty about switching to FIFO.
However, this does not impact Koinly’s cost-tracking migration plan. US users are still being migrated to wallet-based cost tracking to align with eventual IRS requirements. If you’d prefer to cancel this migration, you can remove it from your Koinly settings:
1. Go to Settings in your account.
2. Locate the migration toggle and remove it.
This way, you can continue using universal cost basis method.