- quote -

That works just fine if you know prior to purchase when
you're going to sell.

I don't know if they allow journalling specific positions
from one account to another; that would let you buy
everything in the short-term account, and move it to the
long-term account at the appropriate time.

TDAmeritrade allows you to specify lots online; you have to
send them a "Versus Purchase Trade" letter of instruction.
(See the help files for exactly how.)

Seth

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On Mar 13, 11:22 pm, nws_rea...[at]yahoo.com wrote:

- quote -

If not, is the only other option to call a broker to place
the sale? why don't you just open two acounts? One for your
your long term investments and the other for trading. Then,
you automatically know which lot your selling by what
account it's in. duh

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nws_reader[at]yahoo.com writes:

- quote -

The relevant IRS Regs say that for a specific ID to be
valid (a) you must make the designation *before* the
sale happens, and (b) the broker must provide you with
*written* confirmation of your designation.

Your description doesn't make it sound that either
of those are happening.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

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<nws_reader[at]yahoo.com> wrote:

- quote -

I don't think so: if it's done after the sale, it's too late.

- quote -

You have to specify which lots before the sale. I don't
know if TDAmeritrade offers that online.

Seth

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I know the FIFO order applies when holding multiple lots of
a stock. However, Ameritrade offers an online tool called
GainsKeeper that allows the user to change the sale from
FIFO to "Sell by ID". After selling to stock, the user can
re-assign one or a combination of purchase lots.

Is this OK to use for the IRS? I want to keep the early
lots for long- term gain, and trade the later lots for
short-term.

If not, is the only other option to call a broker to place
the sale?

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >