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Understand tax lots

Tax lots breakdown is a feature available with Prime and Ultra plans that offers detailed insights of your cryptocurrency purchases, helping you track gains, losses, and holding periods.

What are tax lots?

A tax lot represents a single transaction or group of cryptocurrency units treated as one for tax purposes. Each purchase creates a unique tax lot with its own purchase date and cost basis, which help calculate gains or losses. These details are used to track transactions and determine your tax liability whenever you buy or sell cryptocurrency.

Using tax lots

  • Tax loss harvesting: Optimize your crypto taxes by identifying which tax lots to sell in order to offset losses and reduce your tax liability. The table under Crypto you can sell at a loss displays your tax lots.
  • Track and plan: Reconcile past transactions and plan future ones. Watch for discrepancies in transaction history.
  • Maximize benefits: Analyze tax lots to decide which to sell for maximum benefit, considering long-term and short-term gains. 

For tax advice, consult a tax professional. This feature is for informational purposes only.

Key details 

  • The tax lots displayed are the lots available to sell.
  • Capital gains and losses are calculated for each lot based on their individual cost basis and the sale price.

Tax lot table sorting

The tax lots table is organized by your cost-basis method:

  • Highest In, First Out (HIFO): Sorts by highest average cost basis first. 
  • Last In, First Out (LIFO): Sorts by acquired date, showing the newest assets at the top.
  • First In, First Out (FIFO): Sorts by acquired date, showing the oldest assets first.

Access tax lots

From the Performance page:

  1. Sign into CoinTracker, and go to the Performance page.
  2. Under Your assets, click View lots next to the specific crypto.
  3. A Tax lots page for that specific cryptocurrency will open, displaying a complete list of lots.

From the Tax loss harvesting page:

  1. Sign into CoinTracker, and go to the Taxes page.
  2. Click Tax loss harvesting.
  3. Under Crypto you can sell, select the cryptocurrency to open a list of tax lots.
  4. Click View all lots to open the tax lots page, which shows a complete list of lots for that cryptocurrency.

  • Updated