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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: D VanSwol who wrote (6077)10/31/1998 1:08:00 PM
From: Bernie Goldberg  Respond to of 18928
 
Hi,
That depends on where you were when you started.
If you bought at the high and all the way down then your firs sells would FIFO losses.
Bernie



To: D VanSwol who wrote (6077)11/2/1998 5:58:00 PM
From: OldAIMGuy  Read Replies (1) | Respond to of 18928
 
Hi Dennis, Yes, this LIFO - FIFO stuff actually looks pretty good at tax time. I use FIFO accounting for my stocks and Average Cost for my mutual funds. However, many times after a sharp drop it's just as you said - sell for a LIFO gain and a FIFO tax loss.

Nice to have Uncle Sam helping us on the rebuild of our portfolios!

Best regards, Tom


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