Related Posts
Day traders, what do you use to trade?
Is a 529 account worth it for MBA?
If I leave big law for ADA will I get canceled?
More Posts
Thoughts on personal loans to consolidate Debt?
Additional Posts in Everything crypto
Didn’t realize crypto had MLK Jr sales too! 🤑💰
Day traders, what do you use to trade?
Cardano on the way back up, thank God 😮💨
New to Fishbowl?
unlock all discussions on Fishbowl.






My understanding is that you can pick rather than sticking to FIFO or LIFO as long as you keep track. I did some quick googling at the beginning of the year so definitely double check…
I think it’s FIFO, LIFO, and HIFO - HIFO is the key to get rid of losses and immediately buy back as there is no wash sales rules for crypto yet
IRS has indicated that it supports the specific identification method in Rev. Ruling 2019-24 and the IRS’s associated FAQ.
Wouldn't you have to sell both to have a loss and a gain?
I could be way off here, but I thought that's how it worked.
I have realized st and lt gains from stocks. I have net unrealized gains in ETH but bought some at 4, 2, and 3 so if I could sell the 4 it would help reduce my tax bill.
Pro
Don’t think crypto works like that. Very gray area to me. This whole tax thing is a mess.