Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Colin Cody who wrote (2308)	10/8/1999 1:19:00 PM
From: Ginko	Read Replies (1) of 5810

General Question - Scenario - Jim purchases 100 shares of xyz company at $10. Two days later, Jim purchases another 100 shares of xyz company at $15. Two weeks later, Jim sells 100 shares at $15. Can one use the LIFO method for computing a wash sale or must one use the FIFO method and take a $500 capital gain? TIA

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