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.
Congratulations on the Bonus! Learm more about the tax rate at H&R Block - whether you receive a holiday or cash bonus, it will apply to you.
If you are selling items at a farmer's market, learn how to file your taxes with H&R Block. From cash income to bartering, these tax tips will help.
Many entrepreneurs find themselves wondering exactly how Bitcoin is taxed. Our H&R Block Tax Pros are prepared to assist self-employed filers with Bitcoin taxation.
What is Cryptocurrency? Bitcoin, Litecoin, and the like leave many wondering how to classify this new form of investment. Find the answer at H&R Block.