Message Font: Serif | Sans-Serif
No. of Recommendations: 0
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 ( >>



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.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.