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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 (2004)	3/18/1999 2:42:00 PM
From: Brendan W	Read Replies (2) \| Respond to of 5810

Congratulations, Colin, on the Wall Street Journal citing this thread. You deserve it as the contributing "mainstay" here. When in the article, it is written: >>> do this simply by "giving your broker a standing order to use securities with the highest basis when you sell...." <<< I interpret this to mean if your broker takes the trouble to mark all confirmations with the appropriate tax lot information that this technique would work. I assume as a customer of a discount broker that if I have such a letter on file with my broker that the IRS will still assume that absent any specific marking on the individual confirmation that first-in/first-out applies. Is this your assumption?