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 ...
Forbes

FIFO Vs. Specific Identification Accounting Methods

But there is another option called the Specific Identification (SI) accounting method. Assume you bought several lots of security A over the year while the stock increased in price. You might prefer ...
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 ...
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 ...
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 ...