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pmarti:
It seems to me that there ought to be a way for an exchange of e-mails or some sort of electronic identification to be possible. (Brokers could also get in the game, perhaps rigging up a system and charging extra for the service.

I totally agree about this. The brokers wouldn't even have to charge extra. It would be so easy for all on-line brokers to have a little window where the customer could type "sold lot of 200 sh. purchased 2/3/99" (for example). This statement could then automatically be printed on the trade confirmation. I'm not sure whether that would *legally* be acceptable under the IRS rules, but it would certainly be a step in the right direction.

I checked out the American Express brokerage site the other day. It appears that when you sell shares on their site you are offered a menu where you can choose FIFO, LIFO, etc. I've also been told that E*Trade offers a similar function. Can anyone verify, and let us know how well these work?

I've actually made some headway with representatives at Ameritrade, after several failed attempts at explaining the rules. They have been sending me confirmations of shares specified, when I request them.

Someone mentioned the Fairmark site. Here is the URL for "Identifying Shares: What Brokers Need to Know":
http://www.fairmark.com/buystock/broident.htm

fatcity
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