Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
I think you'd be hard put to claim that Brokerage B sold the shares that were held in Brokerage A.
This came up before and everyone agreed that when you hold shares at more than one brokerage (not normally a smart thing to do--increases the trading costs) that by selecting which broker you give the order to sell, you have in effect selected which specific shares are to be sold.
Since you have the lower cost basis in the Buy and Hold shares, you'd owe more tax if you sold those shares.
Now, if you sell part of the shares held at a particular brokerage, FIFO applies unless you do some fancy footwork and the broker cooperates.
I think Roy missed just what you are doing here.
Best wishes, Chris
Print the post  

Announcements

Disclaimer:
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.
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.
Advertisement