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Chad Cottrill
What is the issue?
After migrating from Universal to Per-Wallet cost basis tracking, HIFO lot selection on certain ETH transfers/disposals may pull from lower-cost lots (e.g. 2022 purchases) instead of the expected higher-cost lots (e.g. 2024 purchases) in the same wallet. This appears to be caused by ETH lots being reassigned to wallet locations that don't match the underlying transfer history during migration.
Who is affected?
US users who have completed the Universal → Per-Wallet migration and hold ETH across multiple wallets/exchanges (e.g. Coinbase plus external wallets). Symptom: HIFO cost basis on a post-migration ETH disposal is lower than expected and 8949 gains/losses don't match the user's manual calculations.
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What is the workaround?
No reliable workaround at this time. The Accounting team is actively investigating.
Please upvote this post to indicate you are experiencing this behavior. The post status will be updated once a fix is rolled out. Up-voters will be notified of the status change.
Keywords: cost basis, HIFO, per-wallet migration, ETH, lot selection, 8949