Quick answer
Add each purchase lot with its date, quantity, price, and acquisition fee. Then enter the disposal and switch methods to compare allocated basis and estimated gain or loss.
The method buttons model bookkeeping scenarios. They do not make a tax election or prove specific identification. For U.S. broker-held assets after 2025, the IRS describes communication and recordkeeping requirements that can control which units are treated as sold.
How to use it
- 1Add every acquisition lot for the same asset within the relevant wallet or account.
- 2Enter the quantity disposed, sale price per unit, and the disposal fee.
- 3Compare FIFO, LIFO, HIFO, and average-cost scenarios. Select the method supported by your records and applicable rules.
- 4Download the allocation CSV, reconcile it with exchange statements and Form 1099-DA, then review the result with a qualified tax professional.
Formula and method
Each lot's unit basis equals quantity times purchase price plus entered acquisition fee, divided by quantity. The selected method allocates enough units to cover the disposal.
Net proceeds equal sale quantity times sale price minus the disposal fee. Estimated gain or loss equals net proceeds minus allocated cost basis. The calculator does not apply a tax rate.
Worked example
Suppose 0.10 BTC was bought at $60,000 with a $10 fee, followed by 0.15 BTC at $80,000 with a $12 fee. A sale of 0.12 BTC at $90,000 has $10,800 gross proceeds.
FIFO uses the complete first lot and 0.02 BTC from the second. HIFO starts with the higher-cost second lot, creating a higher allocated basis and a lower modeled gain. Whether that identification is valid depends on records and the rules for the account.
Limits to know
- This is general bookkeeping math and does not provide tax or legal advice.
- Transfers between wallets, missing basis, staking income, gifts, inheritance, forks, wrapped assets, and token migrations require additional records.
- Average cost is shown for comparison and may be unavailable for digital assets in your jurisdiction.
- Dates are used for lot order only; short-term versus long-term character is not calculated.
Frequently asked questions
What is crypto cost basis?
Cost basis generally starts with the amount paid for the disposed units and can include qualifying acquisition transaction costs. Adjustments and local rules can change the tax basis.
What do FIFO, LIFO, and HIFO mean?
FIFO selects earliest units first, LIFO selects latest units first, and HIFO selects units with the highest per-unit basis first. Average cost pools the entered lots. A displayed method may not be permitted for your facts.
Can I choose HIFO for a U.S. crypto sale?
Specific identification requirements are detailed and time-sensitive. For broker-held assets after 2025, IRS guidance says identification must be made with the broker by the transaction deadline using identifiers the broker accepts, with adequate records.
Does this calculate my crypto tax bill?
No. It calculates a lot-allocation scenario and estimated gain or loss. It does not determine holding period, tax character, jurisdictional rate, wash-sale treatment, income, or filing obligations.