I did trades last year assuming I could do LIFO - I accumulated coins untul I reached my cold storage goal - and then I bought a few more and traded with those for a couple.of.months -- but I could have Easily churned through a huge amount of buys/sells! !
Easily dwarfing the initial value!
I think if I go FIFO I would have to sell a vast amount of.my assets to cover the tax.
But if I go LIFO its probably not a problem!
Okay to do LIFO?
And if the IRS gets mean in the future .. can I convert LIFO to FIFO or am I stuck for life?
Sorry about typos Im editting this using a potato
submitted by walloon5
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