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<< Below (after my name) I've appended the text in question. I didn't write that I decided "long after the fact which shares were sold." As it happens, I maintain these records every day, and therefore make these assignations on the day of the sale. Moreover, I do in fact select the shares with the highest basis. I agree, however, that there is an important difference, because I haven't as yet sent the broker a letter to sell the shares with the highest basis. And maybe this difference is "huge," if the broker is in possession of numbered certificates, and keeps records of these, so that the broker in principle can select lots of shares that are identifiable in this way. >>

I'll rephrase. If you are the only one involved in the designation process, i.e. there is no communication with the broker before or at the time of sale, I think you're at risk of not prevailing. Your proposal differs significantly from the cited case, since that one had standing instructions to the broker.

Unless you're so committed to Waterhouse that you'd sooner open your veins than move, I'd suggest you find a broker who can meet your needs.

Phil Marti
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