Scottrade’s default lot relief method is the FIFO (first in, first out) method, meaning the first shares of a particular stock that you bought are the first shares sold. This method is well-suited for accounts with few individual tax lots and limited differences in price per share for cost basis. Investors with many lot positions bought over an extended period of time at different prices should consider the tax consequences of using FIFO. If you prefer a different method, you can select from five other available calculation methods and apply your choice to all transactions prospectively (going forward), or make a selection on a trade-by-trade basis. You can make this change in the Gain/Loss & Tax Center under the My Account tab in your Scottrade account. https://about.scottrade.com/blog/blogposts/the-new-tax-law-and-you.html
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