Planning Briefs
Tax Reform Plan Puts The Squeeze On Securities Sales
Published Thursday, December 14, 2017 at: 7:00 AM EST
When you sell securities, you have a choice about which ones to unload, which changes how they are taxed. But in the Senate version of the tax reform bill being written in Congress, you could end up losing that privilege and paying a lot more tax on capital gains. When you sell securities, you currently have a choice of three methods of accounting for your capital gain for tax purposes: The first-in, first-out (FIFO) method, the last-in, first-out (LIFO) method, or you can pick specific lots of securities - choosing to sell 100 shares of a stock, a specific...
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