Does the IRS allow LIFO/Specific ID tax lot methods for selling crypto? And if so, do I somehow need to specify my choice of method at the time of sale, or just down the road when filing taxes? I use CB Pro and don’t see any settings for selecting methods like in my traditional brokerage account.

like
Posting as :
works at
You are currently posting as works at

IRS aren’t geared up for anything crypto yet. Unless you’re making millions, make your costs equal at least proceeds on your return

No face no case.

Just kidding feds, I will pay.

Related Posts

Who all is looking to buy a house and in what area?

Any recommendations on trading platforms that allow you to set up automatic recurring investments in ETFs? Was surprised to learn i cant do it with fidelity

like

Is it too late in our lives to jump into a mortgage?

So my fiancée and I are relatively late in terms of finally landing well paying jobs and being able to save money instead of living paycheck to paycheck. We’re both 36 and currently rent a 2 bedroom in NY and have a combined savings of $35,000 which she wants to use as a down payment on a condo. I kinda just wanna continue saving while renting. I also literally just started contributing to my 401K so I’m also late in the game for that too.

helpful

How did it take you to pay of all your student loans from law school?

like

Associates - Care to share your rough budgets (income, spousal income/family support, rent, monthly spending, student loan payments, savings, etc.)?

like

Anyone seriously wanna start a hedgefund with me ? I can assure a 30% cagr with my quant

like

So, Partners... What's your spending breakdown like? Curious to see what expenses y'all have. # of yrs as Partner may also help.

Thanks for sharing! Again, just for fun and curiosity.

likehelpfulfunny

Who does your taxes? Need a recommend. Thanks.

like

Can we show rent paying to parents if we are living with them.. Do company mandates that parents should be living in different city to qualify for such HRA exemption.

likehelpful

Has anyone gone to an estate sale in the city?

like

How do people increase their credit score? Mine’s only around 790/770 for transunion/equifax respectively and its been like that for a while now. I have 100% payment rate, only 3% credit utilization, and 0 hard inquiries for the past 6 months or so. So far I only have credit cards, no loans yet. Thanks in advanced!

likehelpful

Celebrate azadi ka amrit mahotsav and reach your financial freedom when India will be celebrating 100 years of independence. 🇮🇳🇮🇳
DM me on 7019194829 for more details!!

Post Photo
like

Hey, I am looking for an Angel investor to invest in our idea. Can someone help me to connect with the person.

like

Experienced folks pls share your views. I am planning to buy a 3bhk. All tower corners (4 sides) have 3bhk options available and I might get to choose inventory in any tower and on any floor. Point to note: North has City view, South has Hill view, W has Forest view & E has city view. If you were gonna buy a flat in this site what all things you would think and then make a decision. First time buying flat.

Post Photo
like

We made it to 10/15. Now to do CPE and wait for the section 199a deduction to make next year's returns a nightmare.

like

Has any one went from reinsurance back to insurance? The money is great and all but the W/L balance isn’t. Has anyone else felt the same?

like

Anyone investing in index annuities? Can someone explain why this is beneficial?

like

Significant other and I crossed the combined $1M net worth mark this quarter! Mostly in RE and 401k so we will not be FIRE-ing but still excited to be in the 7fig club.

Sorry, need someplace to celebrate and you guys are awesome.

likeuplifting

Having trouble selling my (retired) dad's house. It needs a lot of work, but has great character. What if I buy it myself for a low, low price? Then I would be able to get a FHA 203k loan to do the updates. Rent it out or put it back on the market in the spring.

like

What’s a good budget for rent if I’m making 138k + 14k sign on in NYC? I’ve got like 10k in student loans and about 5k in credit cards. No other obligations.

like

More Posts

Terrified of lateraling as a 5th year. I feel like I might know less that what my new firm thinks I know. It’s a great firm and a superlative practice group. I went through 12 partner interviews in 4 rounds and am both excited and scared. 3 weeks until I start. Any tips?

like

Got 2.5 YOE in FS management consulting in UK and looking to move to Toronto. Can anyone advise on what level to aim for, comp ranges for the level and which firms might sponsor visa etc..

like

Anyone know what they pay for acd and cd at martin?

likehelpful

Good resources to find industry metrics? Interested to see how carriers rank up by product type in direct written premium, new business, combined ratios, etc.

like

Wednesday Daily Quordle 114
6️⃣3️⃣
5️⃣7️⃣
quordle.com
⬜🟩⬜⬜⬜ ⬜🟩🟩⬜🟩
⬜🟩⬜⬜⬜ ⬜🟩🟩⬜🟩
🟨🟩⬜🟨⬜ 🟩🟩🟩🟩🟩
⬜⬜⬜⬜⬜ ⬛⬛⬛⬛⬛
⬜⬜⬜⬜⬜ ⬛⬛⬛⬛⬛
🟩🟩🟩🟩🟩 ⬛⬛⬛⬛⬛

🟨⬜⬜⬜🟩 ⬜⬜🟨⬜⬜
⬜⬜⬜🟩🟩 ⬜⬜🟨⬜⬜
⬜⬜⬜⬜🟩 ⬜⬜🟨⬜⬜
⬜🟩🟩🟩🟩 ⬜🟨⬜⬜⬜
🟩🟩🟩🟩🟩 ⬜🟨⬜⬜⬜
⬛⬛⬛⬛⬛ ⬜⬜🟨⬜⬜
⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

like

How to promote the automation culture and documentation culture? I find it hard to give boni for automations since
a) the amount of automations isn't the amount of saved time
b) the amount of saved time is hard to be tracked for a single automation

And how much everyone hates documentation is well known.

Does anyone know better metrics or good incentives?

like

I just got into reading books, any suggestions to start with? Which could help to increase media/marketing knowledge.

like

Best team names?

Anyone is aware Interview process in Databricks
For the role Solution Architect YOE 12

like

Any manager present here ??
My current CTC is 8.5 lpa , YOE - 5.5 and i hve an offer of 18lpa
Thing is I want to get retained by Wipro, can Wipro retain me with 13 or 14 lpa ??
I want to know from manager perspective how they retain someone

like

Thoughts on Klick??? Very intrigued

like

CFGI offers anyone recently? Consultant level NYC what did you get offered

like

Soooo anyone here from TBWA that worked on the Theranos branding 👀

likefunny

Any beginning female golfers here?

Best courses for beginners in North or central NJ?

like

Which laptop Paytm gives to Business Analyst, Growth Analyst?

likesmart

Can you pay for tolls with the tx tag?

like

It only takes two…

like

Is it possible to get 120K per annum in the Netherlands with 11 years of experience for a Senior C++ developer ? If so, which are some of the high paying companies (with a good wlb) ? The candidate is already in the Netherlands & working here.

Additional Posts in Everything crypto

Is binance down? Trying to cancel a limit order and getting a fail error?

like

The past 24 hours

Post Photo
like

Jeez it's Memecoin Monday out here

likefunny

Didn’t invest in LTC early on, it went down to 260 today - worth pulling the plug on it?

Thoughts on btc becoming a new global currency by 2030? Not as optimistic as I once was after seeing all of these countries trying to create their own cryptocurrencies instead.

like

Thoughts on AdEx ?

Which alt coin should I buy in this blood bath outside of ETH, LTC, XRP and BCH?

Huge btc short position in market right now, I expect a lot of liquidity issues to come to light soon. Bitcoin should end up below 30k and stay there as new resistance soon. You all doubt my previous posts but all these bumps to 37-39k are fake bounces from retail buying the dip. Defi is gonna unravel. Do you honestly believe the 10-40% defi interest rates were risk free. It’s all paid by stablecoin printing backed by the assumption that crypto prices would keep appreciating

likefunny

Is Bitcoin about to fall below 30k or rally back above 40k. Vote below 🔮

likefunny

Anyone involved in minting / creating NFTs? Would love to learn more or be pointed to resources. I've been watching a lot of YouTube videos, but wanted a more pointed direction. Tia!

like

Are crypto IRA’s worth it or is it better to just open an account at Coinbase and invest that way?

like

Anyone here have thoughts on Helium (HNT)? I’ve been a fan for a while now

like

Any metaverse coins I should be looking at? What’s the next big thing? Have a few grand to gamble away.

like

Anyone participating in DADI coin crowd sale? Why yes / no?

like

First instinct this morning... put more money on coinbase. Hope by the time it clears I still catch the bottom.

like

Is there a paper or hardware wallet for smaller coin like factom/golem/stratis??!!

I'm a masochist. PRQ tied up a ton of my assets during the last run up in early 2021 while crabbing and dumped just as bad as other alts in May. I just heard whispers of a big cex listing and put some money back into it. 😬

like

I have been DCAing over the last few months on binance and then moving the tokens to my Celsius wallet.

It has become really difficult to keep track of the actual cost of the tokens and profit/loss.

Any software or app recommendations, I am almost inclined to start an excel spreadsheet to keep track now

like

Late in the game with buying crypto. Single but with limited savings with which to splurge. What is a good price point during a 'dip', and which 'stock' is best in my situation (LTC, BTC, ETC, etc.?)

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal