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On a similar note and maybe a nob question, just can't think at the moment , how do you normally treat the following scenario (Treated as a trader (individual) and filing tax returns declaring profits and losses)
You buy shares in XYZ in several tranches - e.g 1000 @ $5.00, another $500 @ 4.00 and another 500 @ 4.50
You then decide to sell say 750 and get $4.45 for them. The rest you do not sell until the following financial year
What do you declare as your cost of the shares/ on your tax return; do you: a) Base on the average price overall
b) Treat each transaction separately
c) as above usng FIFO basis
d) doesn't make any difference
e) something else - who cares all works out the same in the end??
I have never done this so far in my Trading history - Only ever sold all at once and therefore used the total cost as a basis.
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