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Crypto Cost-Basis Tracker

Q: Can I switch between FIFO and HIFO whenever I want?

Generally no. Both the ATO and IRS expect a consistent method applied across transactions for a given financial year, rather than choosing whichever produces the lowest gain on each individual sale.

Q: Does this calculate my final tax bill?

No. It calculates realized gain or loss based on lot matching only. Actual tax owed also depends on holding-period discounts, other capital gains or losses, and your marginal tax rate.

Q: Do I need to track every single transaction?

Yes. Both the ATO and IRS expect records of each acquisition and each disposal. This tool helps organize that record as separate lots.

Track multiple buy lots per coin, pull a live price, and calculate realized gain/loss using FIFO, LIFO or HIFO matching — the part a simple profit calculator skips.

📊Cost-Basis / Tax-Lot Calculator

Add each purchase as a separate lot, then calculate the result of selling some or all of your holdings.

Coin

Currency (for cost basis & gain/loss)

Live price check below always shows both AUD and USD together.

Add a Buy Lot

Matching Method

Quantity to Sell

Sale Price (per unit) — auto-fills from live price

Please check your inputs.

Realized Gain/Loss

FIFO vs LIFO vs HIFO — Why It Changes Your Tax Bill

✓ Live pricing pulled from CoinGecko's public API — no key required, updated in real time when you click "Get Live Price." Matching methods cross-checked against ATO and IRS crypto guidance — last checked June 2026.

If you bought the same coin at different prices on different dates, which "units" did you actually sell when you cashed some out? Tax authorities let you choose a consistent method, and the method you pick can swing your taxable gain significantly. FIFO (First In, First Out) sells your oldest units first — often the cheapest, in a rising market, which usually means a bigger taxable gain. LIFO (Last In, First Out) sells your newest units first. HIFO (Highest In, First Out) always sells whichever lot had the highest cost basis first, which minimizes your taxable gain in most situations — it's the method many crypto tax tools default to for that reason.

Both the ATO and the IRS require you to apply your chosen method consistently rather than cherry-picking lot-by-lot, and specific identification (effectively a manual version of HIFO) requires you to have actually tracked which units you sold at the time of the transaction — exactly the record this tool helps you build.

Method Comparison

Method	Sells first	Typical effect (rising market)
FIFO	Oldest lot	Larger gain (cheapest cost basis used)
LIFO	Newest lot	Smaller gain if recent buys were pricier
HIFO	Highest-cost lot	Smallest gain — minimizes tax in most cases

← Swipe to see all columns

Worked Example

Two BTC Lots, Selling 0.5 BTC at $90,000

Lot 1: 0.3 BTC bought at $60,000 (Jan 2025)
Lot 2: 0.4 BTC bought at $80,000 (Nov 2025)FIFO: sells all 0.3 from Lot 1 + 0.2 from Lot 2
Cost basis = (0.3×$60,000) + (0.2×$80,000) = $34,000
Proceeds = 0.5 × $90,000 = $45,000 → Gain = $11,000HIFO: sells 0.4 from Lot 2 + 0.1 from Lot 1
Cost basis = (0.4×$80,000) + (0.1×$60,000) = $38,000
Proceeds = $45,000 → Gain = $7,000

Same sale, same price — a $4,000 difference in taxable gain purely from the matching method chosen.

This tool calculates the matching mechanics only — it doesn't file anything or know your full tax position (holding period discounts, other capital losses to offset, your marginal rate). For the actual AU capital gains calculation including the 12-month discount, run your result through our Capital Gains Tax Calculator. For a deeper practical walkthrough of reporting crypto on an Australian return, see this crypto tax guide. Live prices are pulled directly from CoinGecko's free public API in your browser; if it's temporarily rate-limited, just enter a sale price manually — the lot-matching math doesn't depend on where the price comes from.

Frequently Asked Questions

What's the difference between FIFO, LIFO and HIFO?+

FIFO sells your oldest units first, LIFO sells your newest units first, and HIFO always sells the lot with the highest original cost basis first. In a rising market, HIFO typically produces the smallest taxable gain.

Can I switch between FIFO and HIFO whenever I want?+

Generally no — both the ATO and IRS expect you to apply a consistent method across your transactions for a given financial year, rather than choosing whichever produces the lowest gain on each individual sale.

Where does the live price come from?+

This tool pulls live prices directly from CoinGecko's free public API in your browser. It's a keyless public endpoint, so occasional rate-limiting can happen — if that occurs, just enter a sale price manually.

Does this calculate my final tax bill?+

No. It calculates your realized gain or loss based on lot matching only. Your actual tax owed also depends on holding-period discounts, other capital gains or losses, and your marginal tax rate — use a capital gains tax calculator or a tax professional for the final figure.

Do I need to track every single transaction?+

Yes — both the ATO and IRS expect records of each acquisition (date, quantity, price paid) and each disposal. This tool is designed to help you organize exactly that record as separate lots.