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RE: Tax Treatment of Cryptocurrency Clarified in New Tax Bill

in #cryptocurrency7 years ago

FIFO is the more commonly used method because of it's simplicity. But this would only hold true if one uses but one exchange. If the two Bitcoin were purchased at different exchanges and one used the February BTC to trade for the XRP it would be a different story.

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This is a great point. Each population of cryptocurrency (different wallets, exchanges) will be accounted for separately.