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So, when the entire MF holding is sold, FIFO is not applicable, what about Specific Identification? If one can use it, then if I'm reading right, the calculation of cost basis would be the same as for Average-cost Double Category, correct?

To say a cost basis calculating method is not applicable may be misleading. The point is that any of the methods you might use will arrive at the same cost basis if you are selling the entire holding of the fund.

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