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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Patrick A. Kelly who wrote (3579)1/21/2001 7:17:33 PM
From: Dan Duchardt  Read Replies (2) | Respond to of 5810
 
Pat,

Unfortunately, the after the fact matching of trades to minimize gains is not acceptable to the IRS. A number of messages have been posted here concerning the default First In First Out (FIFO) rule imposed by the IRS unless you specify the positions you are closing at the time you close them, and get documentation from your broker to verify your election.

Dan


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