FIFO is the more commonly used method because of it's simplicity. But this would only hold true if one uses but one exchange. If the two Bitcoin were purchased at different exchanges and one used the February BTC to trade for the XRP it would be a different story.
RE: Tax Treatment of Cryptocurrency Clarified in New Tax Bill
You are viewing a single comment's thread from:
Tax Treatment of Cryptocurrency Clarified in New Tax Bill
This is a great point. Each population of cryptocurrency (different wallets, exchanges) will be accounted for separately.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit