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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: Shoe who wrote (1527)11/29/1998 11:50:00 PM
From: Colin Cody  Read Replies (1) of 5810
 
FIFO is the default UNLESS the taxpayer specifically identifies which shares were sold.

BY DEFINITION, if you sold shares from Account "A", rather than account "B", you HAVE IDENTIFIED which shares you have sold.

Then within such broker account if you didn't sell all the shares present and didn't otherwise further identify which ones in the account were sold, then FIFO within that account alone would apply.

Colin
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