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Level 2
January 31, 2023
Question

Tax Lot Selection

  • January 31, 2023
  • 2 replies
  • 6 views

By default my broakrage is setup as FIFO.  Can I selectively pick LIFO or a specific lot for sale during the same tax  year. I mean during the same year some sales can be FIFO, LIFO and specific lots.  Thanks

2 replies

Mike9241
Level 15
Level 15
January 31, 2023

you can't change.   you should have notified the broker at the time of sale that you wanted to use a specific lot(s)  

Mike9241
rkg1051aAuthor
Level 2
January 31, 2023

So, during the stock sale ordering process I can specify LIFO or specific lot. I am not bound by same tax lot method for the whole year ?