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Author: fleg9bo Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121104  
Subject: Basis question Date: 3/2/2012 1:16 PM
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Now that brokerages are reporting the bases of stock sales to the IRS, this raises a question. One of my managed accounts resides at Schwab. The manager of that account uses the average method when figuring basis, but Schwab reports it using FIFO. So my capital gains report from the manager shows some discrepancies between what he reports as basis and what Schwab reports as basis in cases where not all shares of a given stock were bought at the same time. Should I go with Schwab's numbers to avoid a hassle with the IRS?

--fleg
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