Not tax advice. This guide is general information. Tax laws change from time to time: last checked on 3 November 2026. Check your own case in the NAV form guide or with an accountant or tax adviser.
What is FIFO, and why does it matter for Hungarian tax on shares?
If you bought the same share in several lots, you have to decide which lot you sold. That sets the cost, and so the gain and the tax. In practice the FIFO method (first in, first out) is used: what you bought first, you sell first.
Why match at all?
The gain on a controlled capital market transaction (ETÜ) counts in forints: the forint value of the sale minus the forint value of the purchases that belong to it. Each side is converted at the MNB rate of its own day. If two purchases happened at different prices and different exchange rates, it matters which one the sale uses up.
The law does not prescribe the method; FIFO is the common practice. Whichever you choose, apply it consistently.
Example in forints
Invented trades and rates; fees are left out to keep it easy to follow (in reality a fee reduces the gain).
| Date | Trade | Shares × price | MNB USD/HUF | Forint value |
|---|---|---|---|---|
| 10 Feb 2026 | Buy | 10 × 150 USD | 360 | 540,000 Ft |
| 12 May 2026 | Buy | 5 × 180 USD | 380 | 342,000 Ft |
| 15 Sep 2026 | Sell | 12 × 200 USD | 370 | 888,000 Ft |
The 12 shares sold, by FIFO:
- 10 shares from the first purchase: 10 × 150 × 360 = 540,000 Ft
- 2 shares from the second purchase: 2 × 180 × 380 = 136,800 Ft
| Forint value of the sale | 888,000 Ft |
| FIFO cost (540,000 + 136,800) | − 676,800 Ft |
| Gain | 211,200 Ft |
| SZJA (15%) | 31,680 Ft |
3 shares of the second purchase remain, held at the 380 rate. The next sale starts with them.
The common mistake: converting the dollar profit
Many people multiply the dollar profit the broker shows by one exchange rate. In the example the dollar profit is 2,400 − (1,500 + 360) = 540 USD, which at 370 is 199,800 Ft. That is 11,400 Ft less than the correct 211,200 Ft, because it ignores that the forint rate was different on the purchase days. With a strong forint the error can go the other way.
What else to watch
- Older purchases. If you sell in 2026 a share bought in 2022, you need the 2022 purchase too. Export your full history, from the day you opened the account.
- Stock splits. After a 1:4 split you hold four times the shares at a quarter of the price. Purchases have to be adjusted, or the share counts will not add up.
- Weekends and holidays. If there is no MNB rate on the trade day, use the last one published before it (which rate?).
- Per broker. Keep FIFO per broker account: you cannot sell at this broker a share you bought at another.
taxprotecc does all of this: next to every sale it shows the matched purchases, the holding period, both rates and the gain.
Rather not do it by hand? taxprotecc does all of this on your own device, without storing your sensitive data.
See what it does