Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Hi Peter
(if)this is a stock, you must use FIFO unless you choose to use specific identification at the time the stock was sold.

I have always been curious about this because I buy/sell all my stocks online and do not have direct contact with a broker (as I am sure many other Fools do their own online trading too) so how can I document which purchase block of stock I am selling? When I sell a stock I know what block I am selling of course and accordingly show that on Sch D.
I hope you don't tell me I have to contact my broker and have him/her execute the trade and notate which purchase block I am selling while I incur a much higher commission? Please say it isn't so.

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.
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.