The IRS assumes that you sell stock on a FIFO basisif you don't specify which shares to sell to yourbroker. How do you specify this, given that I'mselling shares using a web-based broker?Actual example:I have 50 shares of Lucent in certificate form. In order to get some borrowing power to play with, I deposit this into a brokerage account. I then daytrade (I know, bad idea) 100 shares of Lucent,buying and SELLing on the same day. Obviously, myintention was that the 100 shares I sold are the same 100 shares that I bought. There is no wayto specify which to sell however, so technically,I sold the 50 shares I originally deposited, plus1/2 of the 100 I bought that day. This will reallymake complicated that which should not be complicatedat all, given that the original 50 shares I depositedwere there just to augment the borrowing power, andthat they are simply my "long-term" holding shares.So what should I do if anything?
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