I regularly receive inquiries from around the country regarding how gains and losses on cryptocurrency transactions are taxed. Unfortunately, to date, IRS guidance has been limited to Notice 2014-21, which, while it doesn’t tell us a whole lot, does make the following clear:
Capital gains on cryptocurrency: FIFO, LIFO, or Specific Identification?
I regularly receive inquiries from around the country regarding how gains and losses on cryptocurrency transactions are taxed. Unfortunately, to date, IRS guidance has been limited to Notice 2014-21, which, while it doesn’t tell us a whole lot, does ma…