Replies to post #84545 on Anavex Life Sciences Corp (AVXL)

[BeingReal]

My point is, once you select a method and use that method in a tax year, subsequent years must be done the same way. If that's wrong, please enlighten me further, because that would be great.

[BeingReal]

I see what you are saying, as shown on the link you provided, but look at the last paragraph:

"If you do take advantage of the specific-shares method, make sure you receive a written confirmation from your broker or custodian acknowledging your selling instructions. You must determine the method that works best for you and stick with it."

That last part, "You must stick with it" is short in details, but true. Once you choose a method, you are required to use that method in the future. Thus, you cannot revert to FIFO after choosing specific shares.

Having said all that, using specific shares could be very useful. I need to look at the possible down side. Thanks for your enlightenment!