What if my FIFO was the same as HIFO in 2024? In other words I had only one buy transaction with some sell transactions. How would the IRS know if I used FIFO or HIFO if it is not shown on my tax return nor did I tell Turbotax which method I plan on using at the time of inputting my tax data?
If questioned, can I just say I used HIFO in 2024?
