FIFO with two brokerage accts.

Jul 12, 2007 1 Replies

In 2004, I bought 1000 shares of a stock at $21 per share. In 2005, I bought 1000 shares of the same stock at $24.50 per share using a different stock broker, so that I now get a statement from Broker A showing 1000 shares bought in 2004 and a statement from Broker B showing 1000 shares bought in



2005. The stock is now at $29 per share and I want to sell
1000 shares with minimal capital gain. Can I accomplish that goal by merely instructing Broker B to sell my 1000 shares? If not, what else must I do to sell the more recent lot?

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You are correct. Select the broker by which stock he holds and give him the order. That is sufficient "identification" to avoid FIFO rules. ed

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