Cost basis and lots

Cost basis is the amount you paid to purchase an asset plus any additional costs such as broker's fees or commissions. When you sell an asset, its cost basis is compared to the sales proceeds to determine your capital gain or loss.

You can update cost basis information for an unlimited number of tax lots for each crypto deposit. You can save cost basis information for up to 200 lots in each update, so multiple batches may be necessary.

Cost basis records the amount you paid for each purchase of cryptocurrency. The cost basis for Fidelity Crypto^® positions is recorded on a first in, first out (FIFO) basis. This means that you sell your crypto in the order in which you purchased your crypto.

You can edit the cost basis information for open lots of crypto you deposit or receive in your Fidelity Crypto^® accounts and crypto you purchased prior to 2026. You can add the acquisition date and time and the cost of each lot as long as the eligible lot is open and in your Fidelity Crypto^® account.

By default, executed sell orders in Fidelity Crypto^® accounts are paired to tax lots in the order you purchased your crypto (first in, first out or FIFO method) unless you specify lots when placing your sell order. Check with a tax advisor to determine how crypto transactions could affect your taxes. Fidelity does not provide legal or tax advice.

Cost basis information for crypto deposits would come from the wallet where you originally purchased each lot. Check your transaction history there to find the price you paid, the date acquired, and the time acquired. The date acquired should always be earlier than the date of your deposit to a Fidelity Crypto^® account.

A tax lot is a record of what you paid for a certain amount of an asset at a certain time. Each purchase is a new tax lot. Tax lots are used to determine total cost basis. If you have a single tax lot, this amount is also your total cost basis. If you paid in multiple purchases, you'll enter multiple tax lots.

The trading fee on a crypto purchase is included in the cost basis of the tax lot. The trading fee on a crypto sale reduces the amount of proceeds received as reported in Form 1099-DA instead of affecting the cost basis.

You can specify which tax lots to sell in Fidelity Crypto^® accounts when choosing the quantity for sell orders. Lots can’t be reassigned after the order fills. Check with a tax advisor to determine how crypto transactions could affect your taxes. Fidelity does not provide legal or tax advice.

You can’t specify which tax lots to withdraw from your Fidelity Crypto^® account. Tax lots are disposed according to the first in, first out (FIFO) method. Check with your tax advisor to determine how crypto transactions could affect your taxes. Fidelity does not provide legal or tax advice.

You can't change the specified lots in an open crypto sell order. You would need to cancel the open order and enter a new sell order with your new specified lots.

Cost basis information for closed crypto lots is provided in the Gain/Loss Summary for Fidelity Crypto^® accounts, which is generally available in February of the following calendar year.

When you sell an investment that has lost money in a taxable account, you can generally claim a tax benefit. The wash sale rule prohibits investors from claiming the tax benefit when selling at a loss and buying the same (or substantially identical) investment within 30 days before and after the sale date. The rule applies to most of the investments you could hold in a typical brokerage account, including stocks, bonds, mutual funds, exchange-traded funds (ETFs), and options.

Digital assets like crypto are not subject to wash sale rules. Tax regulation can change, and you should always consult with a tax professional to understand any possible tax implications. Fidelity does not provide legal or tax advice.