Скачать или смотреть CPA Explains Easiest Way To Save on Capital Gains Tax! Cryptocurrency & Day Traders Must Listen!

This is an actionable way of saving money on your taxes & not overpaying just because of the "default" brokerage assignment of your cost basis.

FIFO (first in, first out) is generally the least advantageous method of tax lot classification and is always the default classification on brokerages.

LIFO (last in, first out) is not allowed for securities but is more advantageous than FIFO.

Minimization / HIFO is the most advantageous classification and is allowed for BOTH securities and cryptocurrency.

Ensure you are using HIFO / Minimization for securities, and LIFO or HIFO for cryptocurrency.

Generally speaking, HIFO is the best method in any market, especially for minimizing gains & tax-loss harvesting.

The most important thing with tax lot classification is CONSISTENCY.

Ensure you are not overpaying taxes--Log into your brokerage accounts and assign your tax lot / cost basis calculations to HIFO / Minimization.


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