One problem. According to the IRS, you didn't sell the 40 shares you bought in February. You own two "lots" of XYZ, 50 shares purchased in January and 40 in February. Since the default is FIFO, you are considered to have sold 40 of those 50 shares you purchased in January! (OK, how many of you out there are going "uh-oh" and rechecking your Schedule D's?) You should also be careful that you don't fall afoul of the "wash-sale" rules.http://www.fool.com/workshop/workshop.htmMy understanding is that you can designate your lots at the time of sale. How do you do that on E*TRADE? Has anyone had any experience with that? I browsed around their Knowledge Center, but didn't find anything on target.-Fire
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