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Posted by ed on July 12, 2007, 8:51 pm
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NOS...@joinme.com wrote:
> In 2004, I bought 1000 shares of a stock at $21 per share.
> In 2005, I bought 1000 shares of the same stock at $24.50
> per share using a different stock broker, so that I now get
> a statement from Broker A showing 1000 shares bought in 2004
> and a statement from Broker B showing 1000 shares bought in
> 2005. The stock is now at $29 per share and I want to sell
> 1000 shares with minimal capital gain. Can I accomplish
> that goal by merely instructing Broker B to sell my 1000
> shares? If not, what else must I do to sell the more recent
> lot?
You are correct. Select the broker by which stock he holds
and give him the order. That is sufficient "identification"
to avoid FIFO rules.
ed
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