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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: Colin Cody who wrote (171)11/3/1997 12:38:00 PM
From: lavalamp  Read Replies (1) of 5810
 
Colin,

I do not see anything in what e.Schwab said that indicates needing to do the matching in a reasonable time thereafter. Additionally, you can manually change the matching at a later date (by using an edit function). I suspect there has been a change in the IRS requirement that the Broker must put the identification in a written document. Basically, it appears I would have until I created my Sch D. from their system to change the lot.

Without reading the history behind the rules on identification of shares sold, I am not sure why the IRS should care except it facilitates tracking/tracing of shares. But, making tracking or tracing easier is not really a reason for this policy I would assume.
Do you know if Mertens is available on line?
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