Mixing FIFO, LIFO and specific lot in same tax year

[rkg1051a]

Does IRS allow mixing of different tax lot methods for different sales within the same tax year. Thanks

[Mike9241]

not lots but types of inventory.  for example, a car dealer can elect lifo for new cars but not used cars or parts 

if they elect for new cars, they must use LIFO for all new car sales. what does your lifo election say? you did or will file form 970 to adopt lifo 

you should read this for what has to be done

https://www.irs.gov/pub/irs-utl/cor_c_014.pdf#:~:text=If%20there%20were%20no%20prior%20inventories%2... 

[rkg1051a]

Thanks for replying. My case is strictly stock trading, not inventory.  Am I permitted to mix fifo, lifo and specific lot during the same tax year.

[AbrahamT]

I guess if your'e in the business of trading stocks, then your stock would be considered stock inventory. Generally, once a business decides to use a particular inventory method, they are required to stick to it and use it consistently over time.