Posts Tagged ‘Taxpayers’
Tax Court Case Emphasizes Importance Of Identifying Securities To Be Sold
When a taxpayer holds multiple lots and/or shares of the same securities with different costs basis and/or holding periods, the default method of determining which securities are sold first is the first-in, first-out (FIFO method). Taxpayers are allowed to elect out of the FIFO method and direct their broker to specifically identify the lots and/or…
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