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How to treat crypto sales
If I have an existing amount of a crypto asset like Bitcoin (say for example $5k) and I buy and additional $1k in Bitcoin, then my holding is 6k in Bitcoin. A year later, I sell 1k in Bitcoin. How do I look at the cost to acquire the bitcoin, is it First in First Out, Last in First Out, or an average cost of the 1/6th of the Bitcoin as my cost basis? Thank you.
‎November 15, 2023
10:34 AM