Specific Identification Inventory Method: Track Each Item's Value

Learn how the specific identification method lets you track individual inventory costs and improve sales insights. Ideal for ...
Nasdaq

FIFO or Specific Identification: Choosing the Best Way to Calculate Cost Basis on Crypto

The tax calculations required for cryptocurrency investments heighten your return’s complexity, and often lead taxpayers to make mistakes during the filing process. For crypto users who use multiple ...
Outlookindia

What’s The Difference Between FIFO, LIFO, And Specific Identification In Crypto Tracking?

Every crypto investor eventually faces an important question: When I sell my crypto, how do I determine which coins I have actually sold? Because each of these digital assets is purchased at different ...
JournalofAccountancy

Alternative methods allowed for identification of digital assets

The IRS provided temporary relief that allows eligible taxpayers to use alternative methods to make adequate identification of digital asset units that are sold, disposed of, or transferred during the ...
TechRepublic

Inventory Accounting: Methods & How It Works

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...
JournalofAccountancy

Temporary relief for adequate identification of digital assets

As some digital asset brokers may not have had the technology in place to accept specific instructions or standing orders by Jan. 1, 2025, Notice 2025-7 provides temporary relief allowing taxpayers to ...