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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: John Carragher who wrote (8263)	4/30/2005 6:04:33 PM
From: rrufff	Read Replies (2) of 8752

As Reid posted, it's set in the code and regs. If you don't actually indicate that you selling a particular lot, then it is FIFO. It may make a difference for example if you want to avoid a wash sale. Back before online trading, you could just tell your broker to sell a particular lot. With online trading and no personal interaction, there is a difference. If your question is, "From a practical standpoint, does it make a difference?" Then I'd probably say only if you get an agent who wants to check every one of your trades. Now, hopefully, you never get to that point. I can't imagine that the liability would increase significantly but the time involved would kill most of us. I've learned never to mess with the IRS even if the chances of audit are tiny.

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