Stefy PiDec 25, 2021 · 3 years ago3 answersHow does the use of FIFO and LIFO affect tax reporting for cryptocurrency transactions?
Can you explain how the use of FIFO (First-In, First-Out) and LIFO (Last-In, First-Out) methods impact tax reporting for cryptocurrency transactions? What are the differences between these two methods and how do they affect the calculation of capital gains or losses? Are there any specific guidelines or regulations regarding the use of FIFO and LIFO for tax reporting in the cryptocurrency industry?
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