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When selling stocks, which Tax lot ID method should be used? Options: Your standing method, FIFO, LIFO, Highest Cost, Lowest cost or Tax efficient loss harvester.

 
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2 Replies

When selling stocks, which Tax lot ID method should be used? Options: Your standing method, FIFO, LIFO, Highest Cost, Lowest cost or Tax efficient loss harvester.

Unless you tell your broker which lots to sell the default  is FIFO. 

When selling stocks, which Tax lot ID method should be used? Options: Your standing method, FIFO, LIFO, Highest Cost, Lowest cost or Tax efficient loss harvester.

Thanks for the reply. Yeah, I was wondering if I would be charged more for my oldest stocks vs my few newly purchased ones of the same symbol, but from what I have read going with the FIFO might be the most normal option. Asked my Broker and all they would say is ask your tax professionals. 

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