Can I change my cost basis method each year?

Generally, no. Tax authorities expect consistency, and switching methods between years to reduce your bill is something they look for. In the US, you can change your method, but you need to apply the new method going forward and document the change. You can't retroactively restate prior years using a different method. The practical advice is to choose a method at the start, understand why you chose it, and stick with it — ideally with the help of a tax adviser who can document the decision properly.

What counts as a separate purchase lot?

Every transaction where you acquired crypto at a specific price is its own lot. Buying 0.1 ETH on Monday and another 0.1 ETH on Thursday at a different price gives you two lots, even though they're the same asset. This applies to purchases on exchanges, but it also applies to crypto received as staking rewards, airdrops, or payment for work — each of those creates a new lot with a cost basis equal to the market value on the date you received it. The more meticulously you track each individual acquisition, the more control you have over your cost basis method.

What if I transferred coins between wallets or exchanges?

Transfers between wallets you own don't create a new lot or reset your cost basis. The original purchase date and price follow the coins wherever they go. What matters is when you first acquired them and what you paid. The complication arises when exchanges don't retain your full history, or when you move coins to a wallet and the exchange loses track of the original cost basis. This is increasingly common with the new Form 1099-DA reporting in the US, where exchanges may report proceeds without knowing your original cost. Keeping your own records of every acquisition — date, quantity, price, and where it was held — protects you against this.

Does this calculator work for all cryptocurrencies, not just Bitcoin?

Yes. The cost basis calculation works identically for every cryptocurrency — Bitcoin, Ethereum, Solana, or any other token. You enter the prices and quantities specific to whatever asset you're tracking, and the method logic applies the same way regardless of which coin it is. If you hold multiple different assets and sold several of them in the same year, you'd run each asset through the calculator separately, since cost basis is tracked per asset rather than across your whole portfolio.

What happens to the lots I didn't sell?

The lots that weren't consumed by your sale retain their original cost basis and date. They sit in your portfolio exactly as before, and the next time you sell, the same method logic kicks in again using whatever remains. This is important to think about when choosing a method, because the order you sell in today affects the composition of what's left for future sales. If HIFO removes all your high-cost lots this year, next year's sales will be calculated against lower-cost lots — which means potentially larger gains down the line. There's no perfect answer; it depends on your holding plans and what you expect the market to do.

How accurate are these calculations?

The calculator applies the correct mathematical logic for each method — the gain figures are accurate based on the numbers you enter. What it doesn't account for is any adjustment for prior-year loss carryforwards, wash sale rules (where applicable), or the interaction between your crypto gains and other capital gains you may have in the same year. For a straightforward buy-sell situation with clean records, the numbers will match what you'd calculate manually. For anything involving transferred wallets, DeFi activity, staking income mixed in with trading gains, or large portfolios spanning many years, a tax professional who specialises in crypto is worth the cost.

Calculator

Crypto Cost Basis Calculator – FIFO, LIFO & HIFO (2026)

Written by Eric Nkando

11 min read · Updated April 29, 2026

crypto tax cost basis calculator dashboard

Free Tool

Crypto Cost Basis Calculator

Calculate your gain or loss using FIFO, LIFO, or HIFO — and instantly compare which method saves you the most tax.

Purchase lots

Date

Quantity

Price per unit

Sale details

Units sold

Sale price per unit

Sale fees

Currency

Sale date

Cost basis method

Result FIFO

Proceeds

—

Cost basis

—

Gain / loss

—

Avg cost / unit

—

* This calculator tracks cost basis only. Tax owed depends on your country, income, and holding period — use the Capital Gains Calculator for the full tax estimate.

Method comparison

Lot-by-lot breakdown