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I have a question regarding selling stock with different cost bases:

I recall that in order to claim lot identification rather than FIFO for capital gains purposes, I must send a letter to my broker essentially declaring which shares I am selling.

Is this actually the case? Is it simply enough to have the every purchase confirmation in hand so that I may point to the identified shares if required by the IRS.

If I must send a letter, may I send it *after* the sale was completed? When trading via the internet, the rapid communication of a sell order seems to be thwarted by having to snail mail an intention to sell with lot identification.

Can anyone illuminate this subject area for me?

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