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

To: Colin Cody who wrote (176)	11/3/1997 10:17:00 PM
From: Daniel	Read Replies (1) \| Respond to of 5810

> This is what the official Regulation says: > Reg 1.1012-1(c) Adequate Identification: Indentification by the brokerage > within a reasonable time after the trade was executed. . > The broker indicates in a written document the stock identified as sold.-- even > if the broker sells other stock certificaters (for instance, in error). I was asking more about the spirit (the intent) than the letter of the regulation. Are we supposed to decide before selling which lot is being sold? Or can we sell and then decide which lot was sold? (Am I correct in thinking that clearly you cannot wait until you do your taxes to decide which lots were sold? My (discount) broker implied that lot identification doesn't matter much until tax time (that is, that you don't have to assign lots until you file your tax return). That really didn't sound right.) Daniel