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Author: lorenzo2 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 10363  
Subject: Re: Cost Basis for Mutual Funds Date: 1/7/2007 2:42 PM
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Quicken 2007. I am trying to use specific share identification when selling Mutual Funds, but I do not have the option to "Specify Lots" on the "Sell - Shares Sold" window.

If you've never before sold shares from the fund, or if all your previous sales from the fund have used specific lot identification, then you will have the option to specify lots. However - if you've previously sold shares from the fund using average cost, then the "specify lots" option will no longer be available. That's because Quicken is enforcing the rules: the IRS allows you to use an average cost basis on the sale of mutual funds, but once you've used average cost, you're required to stick with that method (for that fund) from then on.

Lorenzo

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