I know the FIFO order applies when holding multiple lots of a stock. However, Ameritrade offers an online tool called GainsKeeper that allows the user to change the sale from FIFO to "Sell by ID". After selling to stock, the user can re-assign one or a combination of purchase lots. Is this OK to use for the IRS? I want to keep the early lots for long- term gain, and trade the later lots for short-term. If not, is the only other option to call a broker to place the sale?
- posted
17 years ago