Cost basis not adjusting when changing from FIFO to LIFO

Koinly Support
1

When I changed from FIFO to LIFO I expected a change in capital gains but didn’t get any.

In particular, I looked at a bitcoin sell back in April and saw that the cost basis was still only including 2020 bitcoin buys even though I had 2021 bitcoin from buys as well as interest income which were not included in the cost basis at all.

2

I think this is ok now (although I’m surprised my taxes went up when switching to LIFO in an uptrending market). It just hadn’t updated fully before.