Finance

Cryptocurrency FIFO Cost Basis Calculator

Find your capital gain using FIFO lot matching across two cryptocurrency purchase lots.


Cryptocurrency FIFO Cost Basis Calculator

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FIFO is the IRS default method for matching which specific units are considered sold when multiple purchase lots exist at different prices.

How it works

The oldest lot is matched first, then the next oldest, until the sale quantity is fully accounted for. Multiplying each matched portion by its original purchase price gives the total cost basis, subtracted from sale proceeds to find the gain.

What this does not include

This handles two purchase lots — a real trading history often involves many more lots across multiple transactions, requiring the same FIFO logic extended across every lot in chronological order.

How to use this calculator

  1. Enter quantity and price per unit for two purchase lots, then the quantity and price of the sale.

Frequently asked questions

Can I use a method other than FIFO for crypto?

Yes — specific identification is allowed if adequate records are kept showing exactly which units were sold, potentially allowing a taxpayer to choose higher-basis lots to minimize gain; FIFO is simply the default absent such records.

Does the wash sale rule apply to cryptocurrency?

Not currently — the wash sale rule (covered by this site’s separate wash-sale calculator) has historically applied to securities, not cryptocurrency, though this is an area that could change with future legislation.

Is cryptocurrency taxed as property?

Yes — the IRS treats digital assets as property for tax purposes, meaning general capital gains and loss principles (including cost basis tracking) apply the same way as with stocks.

Important: This is general information, not financial advice. Figures are estimates, and your lender or provider decides the real numbers. Check with a qualified adviser before acting on them.

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Written by

M. Whitfield

Personal finance writer

M. Whitfield writes the personal finance calculators, covering loans, mortgages, savings, tax and investment maths. The focus is on showing exactly which number goes into a formula and which assumptions a result depends on, so readers can tell when a figure applies to their situation and when it does not. Every finance page states what it does not account for as plainly as what it does.

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A. Whitfield-Reyes

Calculator reviewer — finance

A. Whitfield-Reyes reviews the finance calculators, checking compounding conventions, rate-period alignment, and whether each page is explicit about the costs and tax treatment it leaves out. Financial results are easy to state with false precision, so review focuses on whether the page makes its assumptions visible to a reader who is not looking for them.

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