Nhi NguyenNov 26, 2021 · 3 years ago9 answers How does the 'first in first out' rule affect the tax implications of cryptocurrency investments?
Can you explain how the 'first in first out' (FIFO) rule impacts the tax implications of investing in cryptocurrencies? I've heard that this rule is important for calculating capital gains and losses, but I'm not sure how it works specifically in the context of cryptocurrency investments. Could you provide some insights on how FIFO affects the taxes I would owe on my cryptocurrency investments?