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Cost basis question
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I get the very basic of cost basis. If I buy 1 BTC for 50k, and then hold it for a year. And sell it for 100k.
I have long term capital gains on 50k. The cost basis of my BTC is 50k.
Easy!
What is the secret that I am missing in this example.
I sell 1BTC for 100k. But my cost basis is not the simple 50k. Because I bought .25 in month 1. Bought .25 in month 2 etc. (each .25 has a different cost basis, but while selling , I sold the whole coin.)
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