Will CoinTracking be implementing a way to match a specific purchase with a specific sale?  I'm trying to take advantage of tax loss harvesting since wash sale rules don't apply to crypto.  If I choose LIFO and the coin I'm selling was the last purchased, my net loss is $0. 

The IRS allows for the use of the Specific Identification Method.  If you have the information for each and every transaction (which we do since we are using the CoinTracking software), you can report the specific coin you're disposing of when reporting your taxes.  This allows me to sell a losing position, immediately buy it back and realize the loss.

My issue is that CoinTracking only allows for a blanket FIFO, LIFO, etc choice for reporting.  Choosing one reporting method might let me realize the loss for the wash sale, but increase my taxes on other transactions in the process.

For example, here are my 3 transactions;

Buy 0.374 BCH on 12/30/17 for $900 (BCH Price $2,406)
Sell 0.374 BCH on 5/23/21 for $199 (BCH Price $533)

Buy 0.374 BCH on 5/23/21 (BCH Price $533)

The object is to harvest the $1,873 loss on the transaction.  However, there is no way to do that since I can't assign the 12/30/17 purchase to the 5/23/21 sale without changing the reporting method for the entire year.  Changing it for the entire year increases the tax burden on other transactions I've made through the year.

I need a way to assign the each transaction to a purchase so I can maximize my loss harvesting.

I'm currently staking a few coins with Coinbase which pays out every day.  This is generating a ton of transactions.  How is everyone else dealing with so many transactions?  I have the Pro plan, but soon I'll have to upgrade because of thousands of transactions that just pennies.

Thank you for your response Andreas. 

Do you know when that will be released?

Also, how do I set my reporting basis for this year?  Meaning I see some of my transactions as disposed of and are under the "Realized Gains" section, but I don't remember any setting when I signed up as to my chose of FIFO, LIFO, HIFO, etc.

Can that be changed and things recalculated?  I just started using the Pro subscription a few months ago.

I'm hoping someone can help me wrap my head around something.  I've been going back and forth with support for days and I'm not really getting anywhere.

From what I'm seeing and what they are telling me, you can't change your tax reporting basis on either a year to year or on a per transaction basis.  Meaning, if you pick FIFO, you're stuck with FIFO forever.

For example, with stocks I can choose which shares to dispose of on a per transaction basis, or I can pick FIFO in 2020 and then switch to LIFO in 2021.

Support is saying that isn't possible and you're stuck with whatever you pick forever.

If that's the case, this platform is pretty much worthless.  It offers no ability to maximize tax loss harvesting.