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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Trebor who wrote (2183)11/19/1998 10:49:00 PM
From: Greg Jung  Read Replies (2) of 15132
 
I'll offer a second response, at odds but again qualified by
nothing but general (non definitive) knowledge. If I understand
your question, for example:

lot 12345 200 shares bought 3/98 $40
lot 11111 300 shares bought 9/24/98 $30
lot 22222 700 shares bought 10/8/98 $5

Now the stock is at $20.

It is my understanding that if you sold
500 shares on 10/26/98 for say $15 you would have a short-term
gain of $10x500 = $5000. There is probably a last-in-first-out rule, -however- I believe this rule can be overridden by specifying
which shares are to be sold. So you specify the 500 is from
lots 12345 and 11111 so you have a short-term loss of $20*200 + $10*300. The basis of the remaining 700 shares is $5. I don't know the mechanics of specifying lots, it seems like a royal PIA to formally do it with the brokerage and it may be sufficient in your own bookkeeping.

Greg
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