Specific Identification Overview:
CryptoTrader.Tax will run your reports using the FIFO (First In First Out) calculation method by default. You may update this to one of the Specific Identification calculation methods we support if you have all transaction records that meet the following criteria:
- The date and time each unit was acquired,
- Your basis and the fair market value of each unit at the time it was acquired,
- The date and time each unit was sold, exchanged, or otherwise disposed of, and
- The fair market value of each unit when sold, exchanged, or disposed of, and the amount of money or the value of property received for each unit
If you don't meet these criteria for all transactions, FIFO must be used.
How To Change Your Calculation Method:
- Navigate to "Settings" > Update Settings
- Select LIFO as your report calculation method
- Save Changes
Once LIFO is selected, you will need to re-run your report from step 5.