Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
How do we figure profit taxes on individual stocks bought & sold at different prices and in varied lots?
How can it be that I can find no information that each trader must confront each April? Does Quicken fill this bill?
Print the post Back To Top
No. of Recommendations: 0
if you sold them at the same time you can use average cost. If you sold at different times you use first in first out FIFO it will make it easier, because if you try to start matching lots you may miss a lot etc..

do fifo or avg cost
Print the post Back To Top
No. of Recommendations: 1
if you sold them at the same time you can use average cost. If you sold at different times you use first in first out FIFO it will make it easier, because if you try to start matching lots you may miss a lot etc..

You can NEVER use average cost when dealing with stocks, only mutual funds.

Ira
Print the post Back To Top
No. of Recommendations: 1
yankeesmyteam writes:

if you sold them at the same time you can use average cost. If you sold at different times you use first in first out FIFO it will make it easier, because if you try to start matching lots you may miss a lot etc..

I reply:

Average cost is not available for sales of individual stocks. However, if the original poster sold his or her entire holding in a position at the same time, you may be saying that the calculation method doesn't matter because the result is the same no matter how you do it, and that's almost true. You would still need to use FIFO to determine how much of the basis belongs to short-term shares and how much to long-term shares. --Bob
Print the post Back To Top
Advertisement