US crypto/tax people: with brokers/exchanges having to report crypto transactions in 2025, how do you transfer your cost basis to the exchange, so that they report the right gain/loss? Will there be an option to specify that? Anyone know?

Ah, so it turns out any "outside" assets will be deemed "noncovered" and cost basis does not need to be reported. Problem solved.

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Ah, so it turns out any "outside" assets will be deemed "noncovered" and cost basis does not need to be reported. Problem solved.

https://koinly.io/blog/form-1099-da/

Gemini asked me to provide the cost basis for transferred assets, but I think it's voluntary:
"If you take no action by January 15, 2025 your gain/loss statement will be produced using FIFO as the disposition method and your report will show proceeds only for those assets purchased on the Gemini exchange."