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.

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Farmer’s Market Tax Tips

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.