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Author: edcosoft Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 123526  
Subject: Re: Choosing Which Shares to Sell Date: 10/7/1999 5:38 PM
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FIFO is the default method. You can pick any stock you want to sell. You must 'adequately identify" it however, and the IRS says adequate is if you write your broker and tell him which wshares and he responds in writing to confirm that. I *personally* think that is just *one* adequate method and there must be others the IRS isn't quoting, but try it the IRS way and if your Broker refuses (which is common) try another because by then it's too late.
Best option in a rising market is to sell the latest Long Term Gains shares, or the highest cost LTCG shares, and the ST ones will become LT ones shortly. If a loss, sell the oldest Short Term losses first, or highest cost ST losses. Ed
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