Specific ID Cost Basis Possible?

Tax Questions
#1

I see options 4 options for Cost Basis Reporting: FIFO, LIFO, HIFO, ACB.

Is it also possible to use Specific ID cost basis reporting? And if not, is it possible to choose another reporting method (e.g. HIFO) and override or tag certain transactions to ensure Spefic ID is used?

#2

Can someone please answer this? My accountant told me I’m free to choose the purchase event to match the sale event for each sale.

#3

Koinly does not support this at the moment.

We support multiple cost-basis methods and we have a setting called ‘wallet-based cost tracking’ which is a form of Spec ID.

Best regards,
Petur

#4

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