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<<I own over 1,000 shares of a specific stock. The shares were purchased on 4 different dates at 4 different prices.

Now I wish to sell a portion of these shares. How do calculate the gain? What is acceptable, LIFO or FIFO? Or can I initially pick the highest price, as long as I am consistent as I sell more in the future.>>

As ptheland correctly points out, you have only two choices: specific share method or FIFO (first in-first out).

And as was also correctly pointed out, you can read much more about this very issue in the Taxes FAQ area. If you decide to go with the specific shares method, you've gotta have good records. So please stop by the Taxes FAQ area and read more about it.

TMF Taxes
Roy
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