Identifying Shares Sold
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.
What are stock splits? Learn more about stock splits and their cost basis from the tax experts at H&R Block.
What is the cost basis of stock and other investments? Learn more about calculating the basis and get tax answers from H&R Block.
With a new crop of investing apps like Robinhood, Acorns, Wealthfront, and Stash, some online investors are left confused on how to report to the IRS.
What is a capital gain or loss, and how do they affect your taxes? Learn more from the tax experts at H&R Block.