5 ms·
Fifo rules apply (first in, first out)
by hparadiz 5y ago
Fifo rules apply (first in, first out)
- lowercased 5y agonot sure why that would necessarily apply. with any stocks I own, I can choose which lots to sell. i don't have to handle them as FIFO.
- NovemberWhiskey 5y agoI'm genuinely interested to hear how this gets implemented in a way that's not grossly time-consuming. As I understand it, the requirement is basically that every time you use BTC for a purchase, you're required to identify the USD basis for the BTC and take a gain or a loss according to the USD value of the transaction, right? For me, it's painful enough to do that for a relative handful of stock trades throughout the course of the year, and that's with my brokerage tracking the basis and sale price of various lots for me. I can't even begin to imagine the nausea of having to track all that myself and report it.
- lallysingh 5y agopip install cryptotax (seriously)