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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How should you report business income or a loss? Learn more about self-employment income, hobby loss rules and other tax issues at H&R Block.
Learn more about Form 3921 and incentive stock option rules with the tax experts at H&R Block.
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