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Author: TMFExRO Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 124995  
Subject: Re: FIFO Date: 9/27/2000 3:47 PM
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Stock xyz is in my name, my name and my wife's name, my wife's name and my name, and my wifes maiden name. These are all the same stock, just using xyz for an example, but purchased before and after we were married. As far as the IRS is concerned they are all under the same household and transactions would be reported on the same tax form.
Now for the question.
If I default to FIFO (by not specifing anything else) when I sell the stock, am I obligated to sell the oldest stock held in all of those three names or is it on an individual name basic.

IIRC, you have certificates for all but a recent split, which is held in book form. I don't know whether there are four or fewer book entry accounts, corresponding to the four name combinations you mention.

FIFO is the default when the shares being sold are not identified. Since you'll either be sending in a cert or specifying a book account from which the shares are to be sold, that action by itself specifies a block of shares from which the shares being sold are drawn. If you're not selling that entire block, FIFO says you're selling the oldest shares within that block. Which block(s) you choose to liquidate is entirely up to you.

Phil Marti
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