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Author: JustaJester Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121585  
Subject: Re: Cap Gains : how do I ??? Date: 5/4/1998 5:03 PM
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CompleteIdiot, (Nice Name :^)

I'm no expert on this, but I will tell you what I've picked up from the boards. Mostly, so you won't do anything rash before somebody who *really* knows this stuff gives you a good answer.

Yes, you can specify which shares of XYZ stock you want to sell. There has been some turmoil about how this is done, because there appears to be an IRS requirement that you get confirmation from your broker that they sold the ones you specified -- yet some brokers (Schwab for instance) won't give you such confirmation. Their position is that it is *your* responsibility to keep track of which shares you are selling.

There is a Tax FAQ in the Fool's School at:

http://www.fool.com/school/taxes/taxes23.htm

Myself, I'm thinking of taking my business out of Schwab and putting it somewhere that has a better policy on helping their clients out with this. Good Luck!

JJ
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