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: Steve Lamont who wrote (2739)	1/22/2000 11:40:00 AM
From: BWAC	Read Replies (1) of 5810

On the tax lot (FIFO) selling questions: And the online brokers not allowing for specific indentification. Has anyone thought of or tried this idea? I wonder if it could be supported? Lets say 3 online accounts (Brown, Ameritrade, Etrade). For simplicity sake, 3 long term held stocks (wcom, ibm, and msft). Brown contains WCOM. Ameritrade contains IBM. Etrade contains MSFT. If you want to short term trade MSFT do it only in your Brown or Ameritrade account. You sent the loosely defined 'specific shares' of MSFT held longterm to Etrade. Has this not, in spirit, specifically indentified the shares you bought and sold at Brown/Ameritrade. And segregated the long term shares held at Etrade? Any opinions?????

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