Specific identification notes that accountants accept
What to write in a lot note when you reject FIFO and choose a particular acquisition for a disposal.
FIFO is simple to explain and often wrong for how people actually sell. Specific identification lets you dispose of a particular acquisition—but only if the note trail would convince someone who was not in the room.
Minimum note contents
- Acquisition date and exchange or wallet source
- Why this lot was chosen over an earlier one (for example, a lot already earmarked for a long hold)
- Reference to the export row or trade ID
Vague phrases such as “picked the expensive lot” without a source date invite a rewrite.
Hong Kong context
Whether a gain is chargeable depends on facts far beyond lot method. Our desk does not advise on chargeability. We only make sure the lot register shows a consistent method your preparer can describe.
Where this lives in the organizer
Each disposal row in Automation Orches has a note field that travels into the handoff packet. Fill it while the reason is fresh; reconstructing intent months later is how packets lose credibility.