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.
Get tips on reducing your taxable income through deductions, donations and more. Learn how your AGI can affect your tax refund.
Learn more about rolling your 401K into an IRA with help from the tax experts at H&R Block.
Is an inheritance considered taxable income? Learn more from the tax experts at H&R Block.
Learn more about the adjusted cost basis method of selling shares and get tax answers at H&R Block.