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: Zeuspaul who wrote (1)	9/30/1997 10:18:00 PM
From: Zeuspaul	of 5810

What are the pros and cons of FIFO (first in first out) vs LIFO? Is the LIFO (last in first out) method prefered for long term investors? If one grows a position overtime is it true that if you sell a percentage of your holding that you will incur a taxable gain based on the value of the last stock you purchased ? Assuming the stock has gone up in value this would minimize your tax and allow the original holdings to grow tax free? How permanent is the election? Is this a once in a lifetime choice? Is it specific to each stock. For example: Can you make a LIFO election for IBM and a FIFO election for MMM? Can it be reversed?

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