Strike lets you edit the acquisition and disposition details of your bitcoin so your tax lots stay accurate. Learn more about cost basis and accounting methods on Strike.
Where can I manage my cost basis?
You can manage your cost basis either on the Strike mobile app or on desktop with your Strike Dashboard. The dashboard provides a full table view and is ideal for reviewing and updating cost basis for multiple transactions.
On mobile:
- Go to your
Activity screen - Tap Bitcoin at the top to filter by bitcoin transactions
- Select a received transaction to review or edit
- Tap
Edit on the Cost basis row - Edit the transaction details if needed
- Tap the + icon in the top right to divide the transaction into multiple lots, if needed
- Tap Save to finish
Please ensure the combined amount of all lots equals the full transaction amount before saving.
On the Strike Dashboard (desktop):
- Select Cost basis from the left sidebar
- Under the Bitcoin lots tab, click a lot to edit
- Edit the transaction details if needed
- Click + Add lot to divide the transaction into multiple lots, if needed
- Click Save to finish
You can use the Transfers out and Dispositions tabs to manage outbound activity and reassign types if applicable.
Default assumptions for transaction types
Strike assigns default transaction types based on how the bitcoin was sent or received. You can reclassify your transaction types, except for purchases and sales, which are established.
| Transaction | Default type | Can be changed to | Cannot be changed to |
|---|---|---|---|
| Receive (On-chain or Lightning) | Transfer in | Gift received, Payment received | — |
| Receive (from a Strike user) | Payment received | Gift received | Transfer in |
| Send (On-chain or Lightning) | Transfer out | Payment sent, Gift sent | — |
| Sends (to a Strike user) | Payment sent | Gift sent | Transfer out |
| Purchases and Sales | Known | Cannot be edited | N/A |
Please note, “Transfer out” and "Transfer in" refer specifically to sending and receiving bitcoin to your own external wallet (not to someone else).
What can be edited?
Most transactions start with a “Needs review” status until you confirm the transaction type. Once saved, they become “Edited.” Purchases and sales are always marked “Known” and can’t be changed.
- Transfers in (on-chain or Lightning): These are assumed to come from your own external wallet. You can edit the amount, acquisition date, and cost basis, or split the transaction into multiple lots with different acquisition details.
- Transfers out (on-chain or Lightning): These are assumed to go to your own external wallet. You can reclassify them as payments or gifts, which moves them to your Dispositions tab.
- Transactions to or from Strike users: These are known to be with someone else's wallet. These can be categorized as payments or gifts, but not as transfers.
You can export your full transaction history anytime from the Activity section of your Strike Dashboard.
Deadline for editing
We recommend reviewing and updating your cost basis information by January 31 for the prior tax year so we can generate the most accurate tax form possible in February. Tax forms are typically generated and delivered in mid-February.
If you make updates after your tax form is generated in mid-February, you can request a revised form before the April 15 filing deadline. After that date, you can still request a corrected form if needed.
By law, the IRS must be provided with a copy of your form 1099-DA, but it will not include cost basis until tax year 2026. You remain in control of the cost basis reported on your tax return, regardless of what appears on your Strike tax form.