Mike Lindell Media Corp (MLMC)

[wickw50]

RE: "I asked a tax question on the board some time ago without an answer. If I have several purchases of the same stock over a period of time and only sell part of them before the end of the tax year, do I have to use FIFO or LIFO, or can I use whatever purchases will result in the least taxable income?"

I asked a similar question of my Scottrade broker and he said in trading use the FIFO.

You can't get around the three day rule to my knowledge. You can sell part of your shares one day, part the next, and then part the next, and thereby effectively "trade" around it under the FIFO rule, but you still have to pay the additional "juice" per trade...Personally I don't mind the "juice" as long as I'm plus. Besides, my Scottrade guys (Ft. Worth, TX) are really good guys and very helpful.

BT has a good point about trading large blocks in a low volume environment. You can actually "move" the market, sometimes good, sometimes bad...

Wick