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Financial Planning / Tax Strategies


Subject:  Re: Long & short of stock sales Date:  3/31/1998  12:28 AM
Author:  TMFTaxes Number:  3145 of 127635

[[The official IRS policy is that UNLESS you have a written confirmation from your broker indicating
exactly which lot of shares were sold, then you have to report sales on a first-in, first-out basis. IN
your case, this seems the most 'tax advantagious' in any case.]]

While that may be the official IRS position, the courts are not quite in agreement. For a discussion of the specific identification method, see my post on that issue in the Taxes FAQ area. There really are loopholes that you can use without specific broker confirmations.

TMF Taxes

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