When transactions are executed on exchanges and that data is provided to NODE40, either by file upload or direct API access, NODE40 uses pricing data supplied by the exchange as part of that data. This is inline with the most recent IRS guidance from October 2019.
In cases where the pricing per currency is not provided, NODE40 uses a volume weighted average from hundreds of global exchanges to apply a fair market value. This too is inline with the recent IRS guidance.
In all cases, you as our customer is given the freedom to change any pricing applied, whether from the exchanges or from NODE40 so you can make any adjusts you or your accountant feel are appropriate.