Re: FIFO or LIFO ?
"- David Johnson -" <davidj-No8jgTBPOgO6c6uEtOJ/[email protected]> Sun, 14 May 2006 09:56:42 +1000
| Newsgroups | gmane.comp.web.sql-ledger.user |
|---|---|
| Message-ID | <[email protected]> |
<HTML> <HEAD> <META content=3D"text/html; charset=3Diso-8859-1" http-equiv=3DContent-Type> <META content=3D"OPENWEBMAIL" name=3DGENERATOR> </HEAD> <BODY bgColor=3D#ffffff> <font size=3D"2"><b>On Sat, 13 May 2006 09:41:29 -0500, Bob Gustafson wrote= </b> <br />>=20 <br />>=20 FIFO and LIFO are simple rules which may not fit all cases. If you are=20 <br />>=20 talking about multiple purchases of the same company's securities (stock=20 <br />>=20 market purchases), you can handle each purchase as a separate lot. For=20 <br />>=20 tax purposes, it may be convenient to chose one lot or the other when=20 <br />>=20 selling stock in the company. If the sales transaction results in a=20 <br />>=20 loss, you may wish to chose a newer lot so as to make the transaction a=20 <br />>=20 short-term loss. etc. etc.=20 <br /> <br />Bob <br />Not in Australia. <br />In .au all stock holdings (both for investment and as trading stock) = are recorded without certificates. <br />So for tax purposes, its strictly FIFO. <br /> (Ok, to be really obscure, you could have multiple accounts with different = sponsoring brokers, <br />and then select which parcel to sell buy selecting the broker applica= ble. <br />(Almost) nobuddy does that.) <br />Cheers <br />David J <br /> <br /> </font> </BODY> </HTML>