Ninjastic
Home
Search
Users
Boards
Addresses
Ctrl + K
Toggle theme
Open menu
Post
Edited versions
Quotes to this post
Post
55940824
Topic
5303604
Board
Legal
Re: HIFO/LIFO vs FIFO
by
Unsaint32
on
26/12/2020, 17:50:49 UTC
Thank you so much for your answer.
Based on your advice, I did some more research and now I am almost certain FIFO and LIFO (even HIFO) are acceptable to IRS.
https://gritdaily.com/irs-releases-new-rulings-cryptocurrency-taxes-2019/
https://donnellytaxlaw.com/tax-expert-picking-the-best-method-for-reporting-your-cryptocurrency-gains/
Koinly allows me to compare FIFO, LIFO, HIFO for my capital gain. For me, LIFO was about 1/2 of FIFO.
Thank you.