Re: gains and selling mutual fund shares

[EMAIL PROTECTED] (Dave) wrote:

> I sold some shares of a mutual fund I own a few years ago.
> At that time, I used the FIFO method for calculating and
> reporting to the IRS. Now I want to sell more shares, and am
> wondering if I am locked in to using the FIFO method from
> now on for selling shares of this fund, or if I can change
> to the (single-category) averaging method.  Any accurate
> advice is much appreciated.

You are NOT locked in to using the FIFO or specific
identification methods, but if you change to the averaging
method (either singe- or double-category) YOU ARE required
to use that method on all subsequent sales from this fund.

<< ------------------------------------------------->>
<< The Charter and the Guidelines for submitting    >>
<< messages to this newsgroup are at www.asktax.org >>
<< ------------------------------------------------->>