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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: oilbabe who wrote (54599)11/12/1999 2:55:00 PM
From: Wallace Rivers  Read Replies (1) of 95453
 
Partially correct - if you don't specify, you use FIFO. You can specify (if I do I just have it placed on the ticket versus purchase). Another way you can do it (I think) is on an average cost basis.
If you want to buy, then sell shares against the higher basis stock, remember the 30 day wash sale rule - I usually hold 31 days minimum in this instance.
As well, you should consult your accountant.
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