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.
Learn how you should report the tips you received on your taxes.
Learn how much you can sell before paying tax with advice from the tax experts at H&R Block.
Learn more about the qualification rules for tax-exempt military pay with the experts at H&R Block. Find out if you qualify for tax benefits.
Learn more about mutual fund and stock dividend reinvestments from the tax experts at H&R Block.