Todf MonroeDec 28, 2021 · 3 years ago7 answers What are the alternatives to the FIFO (First In, First Out) requirement for calculating cryptocurrency profits?
Are there any alternatives to using the FIFO (First In, First Out) method for calculating profits in cryptocurrency trading? I've heard that FIFO can sometimes result in higher tax liabilities or inaccurate profit calculations. What other methods can be used to calculate cryptocurrency profits? Are there any advantages or disadvantages to these alternative methods?