Sales Methodology and Cost Basis

Hi,

A few years ago I did some planning before selling stock and chose to use the HIFO method since it was going to yield a loss. However, when i received my 1099 B, the cost basis did not reflect what the tax lots I had chosen to sell and ended up reporting a gain. Has any one else had an issue like this? Are the brokers capable of keeping track of investments on a lot by lot basis??? I'm worried i will have the same issue this year as i sold stock using the specific method.

thanks,

Reply to
Melissa Sachet
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I've had good luck with Fidelity reporting using specific identification. Of course they also let you choose the specific tax lot when you place the order.

[Was HIFO a typo, or did you just invent "Highest In First Out"?]

Don EA in Upstate NY

Reply to
Don Priebe

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