Crypto Tax Lot Calculator

Each crypto purchase creates a lot with its own cost basis (price + fees) and acquisition date. When you sell, the IRS expects you to match the sale against specific lots to compute realized gain or loss.

FIFO sells oldest lots first (often higher long-term gains). LIFO sells newest first. HIFO (Highest-In, First-Out) sells highest-basis lots first - usually minimizing realized gain in a rising market. HIFO requires specific identification and good records.

You bought 1 BTC at $20k, then 1 BTC at $50k. You sell 1 BTC at $60k. FIFO realizes $40k gain; LIFO/HIFO realizes $10k gain. The remaining BTC carries the other lot's basis for next time.

No - selling high-basis short-term lots can be worse than long-term FIFO at lower tax brackets. The calculator compares all three methods; final choice should consider long/short-term rates and your overall tax picture. This tool is informational, not tax advice.

Yes. Under IRS Rev. Proc. 2024-28, effective January 1, 2025, the old universal (cross-wallet) basis method is gone: you must track and identify lots per wallet or account. To use HIFO or specific identification, keep records made at or before each sale showing which lot was sold in that account. Brokers also began issuing Form 1099-DA for the 2025 tax year (arriving in early 2026), so your reported basis must reconcile per account.