When do you have to specify to the IRS which method you're using to calculate cost basis for stocks and mutual funds, what exactly do you need to say, and where on the return does it go?
Are there "default" methods where you don't need to specify? FIFO for stocks, average cost basis for mutual funds? My practice of always using these respective methods and never reporting (nor changing) which one I've used seems to have worked without a hitch so far.
JP