Crypto tax cost basis method

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Crypto Tax University - #6 Deep dive into Cost-basis (Tax-lot ID) methods for crypto taxes
The best cost basis method for you may vary depending on your specific situation. FIFO is used by most investors since it is considered the most conservative. The simplest cost basis method is First In, First Out (FIFO). FIFO means that the first unit you purchase is the first unit that is sold from a tax perspective. Cost basis is simply the purchase price when you acquire the crypto asset. If you paid USD 20, to acquire one bitcoin on August 1st, the cost.

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Go Back in Time with Bitwave. Accounting methods determine the order in which you sell your cryptocurrency � which can have a big impact on your tax bill! No obligations.