The Migrations page in Coinpanda allows you to update your cost basis method or switch from Universal to Per-wallet cost tracking without affecting calculations for previous years.
Migrations are applied from a specific date you choose, and all calculations from that date onward follow the new method.
What is a migration?
A migration is a snapshot of your current cost basis at a selected date. This snapshot “locks in” your historical gains and losses so that switching methods does not retroactively change past tax years.
Migrations are useful when:
You want to change your cost basis method (e.g., FIFO → HIFO)
You want to switch from Universal to Per-wallet cost tracking
You must comply with new tax regulations (such as the IRS requirement to use Per-wallet tracking from 2025)
Migration types
There are two types of migrations you may create in Coinpanda:
1. Universal → Per-wallet cost tracking
This migration takes a snapshot of your Universal cost basis pools and distributes them across your individual wallets. From the migration date onward, all gains and losses are tracked per wallet.
2. Cost basis method change (e.g., FIFO → HIFO)
This migration takes a snapshot using your currently selected cost basis method. After the migration date, you can switch to a different method for all future calculations.
Examples:
FIFO → HIFO
HIFO → LIFO
Your historical calculations remain unchanged.
Tax Lot Allocation Method
When switching from Universal to Per-wallet, Coinpanda must allocate unused tax lots into each wallet. You can choose how these lots should be distributed:
Highest cost → First received
Sorts all unused tax lots from highest to lowest cost and assigns them to the earliest acquired units in each wallet.
Highest cost → Last received
Sorts all unused tax lots from highest to lowest cost and assigns them to the newest acquired units in each wallet.