This article applies to US customers only.
You can change your cost basis method from your tax settings. What you can change depends on your plan:
| Change | Plans |
|---|---|
| A different method for each exchange or wallet | All plans |
| A different method for each tax year | Ultra and Ultra+ |
| Switch methods partway through a year (date ranges) | Ultra and Ultra+ |
Change the method for a tax year
On Ultra and Ultra+ plans, you can use a different method for each tax year.
- Navigate to Settings and select the Taxes tab.
- Select Cost basis method, then select the tax year you want to update.
- Under Set by CoinTracker, choose HIFO, FIFO, or LIFO, then select Save.
Set a method for each exchange or wallet
- Navigate to Settings and select the Taxes tab.
- Select Cost basis method, then select the tax year.
- Under Set by CoinTracker, select Custom by wallet or date range.
- Select a method for each exchange or wallet, then select Save.
On Ultra and Ultra+ plans, you can also switch methods partway through the year. Select Add dates next to the exchange or wallet, enter the starting date and time for each period, and choose its method.
Coinbase and Kraken accounts connected by API sync their method automatically. To learn more about this, check out the article: Cost basis method synced from Coinbase and Kraken
CoinTracker may take a few moments to recalculate your cost basis after you save.
Note: Tax years you filed show a freeze icon and are read only. To change one, first unfreeze your transactions.
Disclaimer: CoinTracker is provided for informational purposes and is not intended as tax, audit, accounting, investment, financial, or legal advice. For financial, tax, or legal advice, please consult your own professional. See our full disclaimer.