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basmbs wrote:

<< We own shares in a major company (Bellsouth), and want to sell some to rebalance our portfolio. To minimize capital gains we'd like to identify specific shares (bought on certain dates for specific prices). We don't use a broker (we own these shares directly, and participate in the dividend reinvestment plan). The company will sell shares for us. No one (the company, our CPA, nor the IRS) seems to know how we can identify specific shares to be sold (no certificates - all shares held for us by the company). Would the IRS be satisfied if we did the bookeeping ourselves (we have printed statements of purshases), and identified our intention of selling specific shares in a letter of instruction to the company (perhaps they could sign it for confirmation and send a copy back to us?)? What do people usually do. Thanks

-Bruce Schiff (bschiff@well.com) >>

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Bruce,

You can specifically identify any shares you want so long as you keep detailed records showing the basis of all shares, identifying the ones sold on each specific date.

Andrew
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