The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Tax Lot Accounting||Date: 12/21/1997 9:16 PM|
|Author: TMFTaxes||Number: 972 of 121216|
<<If a have a stock in multiple trades at different
cost basis' and wish to sell one, without specifying
which one, which block is treated as sold for
tax purposes at the IRS?
Is it LIFO or FIFO?>>
If you are unable (or unwilling) to specify the shares sold, you are stuck with the FIFO (first in-first out) method.
For additional reading on the specific shares method, check out my post on this issue in the Taxes Frequently Asked Questions area. Start at the Fool home page, go to the Fools School, and follow the roadmap from there.
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