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H&R Block Tax Professionals relentlessly focus on making sure you profit from every deduction and credit available.
Finding answers to your tax questions is now less taxing.
Before selling shares, decide which shares will minimize your capital gain or maximize your loss. To minimize gain, you should sell the shares with the highest basis. To maximize loss, you should sell the shares with the lowest basis.
If you don't identify the shares you sell in writing before selling them, the IRS assumes you used the first-in, first-out method.