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Question

Question About Liquidating Assets on Taxable Brokerage Account

Forum|Forum|1 year ago
October 30, 2024
1 reply
12 views

If I have been dollar cost averaging every month into one single index fund on a taxable brokerage account for the past 1 to 2 years. If I liquidate a portion of those assets, how are the capital gains calculated? Does the IRS automatically assume that I am selling my oldest assets first?

Level 4

Hi snl003!

That is something you would have set up with your broker. Most accounts are set up to sell the oldest lots first, but they would be able to confirm that with you. The IRS doesn't make any designation on that, they just take the information as the broker reports it.

Hope that helps!

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