A specific purchase of an asset with its own date and cost. When you sell part of a holding, which lot you sell determines the gain; specific identification lets you choose.
Which lot you sell changes the gain and the holding period. Since the 2025 broker reporting rules, identification has to happen at the account or wallet level, not across your whole portfolio, and you need to identify the lot by the time of sale. Default is first-in, first-out.
Not under current rules. Identification must be made no later than the time of sale, and your records need to show it. For broker-held units, IRS Notice 2026-20 extends transition relief through December 31, 2026 allowing identification in your own books and records; it does not cover self-custody wallets.
Last reviewed September 10, 2026. Tax rules change; confirm current law before acting.
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