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A comment on IRS will look into setting up a free e-filing system. Parent comment

Re:IRS will look into setting up a free e-filing system by spullara on Wednesday September 07, 2022 @02:47PM (#32754680)
1. If the IRS handles it without reporting they assume that your sell LIFO for the worst possible capital gains treatment.
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Re:IRS will look into setting up a free e-filing system by TulliusCicero on Wednesday September 07, 2022 @07:24PM (#32758630)
And as long as it's just the default, who gives a shit?

Besides, as others have pointed out, there are ways to specify at the time of the sale. That's what Schwab does when I sell stock there.

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Re:IRS will look into setting up a free e-filing system by LiquidSky on Wednesday September 07, 2022 @03:22PM (#32755330)
In the theoretical new system, you could have an option to file additional elections or changes. The IRS would have a default that you could then vary if you chose.
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Re:IRS will look into setting up a free e-filing system by sidlls on Wednesday September 07, 2022 @03:11PM (#32755105)
The brokerages permit election of the method and can easily be made to report that along with the other details
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Re:IRS will look into setting up a free e-filing system by mywittyname on Wednesday September 07, 2022 @02:56PM (#32754828)
Vanguard gives me an option on how to treat capital gains for tax purposes.
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