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Author: rkc5000 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121598  
Subject: Identifying Shares To Be Sold Date: 11/1/2000 8:17 AM
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I did a search and did not see this - sorry if it is a repeat.

American Express allows you to identify which shares you are selling at the time of the sale. You can specify FIFO, lowest gain, highest gain and so forth.

According to the rules I have seen such as at:
http://www.fairmark.com/buystock/broident.htm
and
http://www.irs.ustreas.gov/forms_pubs/pubs/p5500402.htm

the broker must supply you with a written confirmation of this. American Express does this on the web site on a gains/losses worksheet. This worksheet is not editable by the user so cannot be changed. This must clearly be acceptable to the IRS as it follows the guidelines. I have asked Amex and they say it is.
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