Deciding if to use FIFO or LIFO for taxes

Discussion in 'Taxes and Accounting' started by Option Trader, Dec 1, 2009.

  1. Does Turbotax or any other software instantly calculate different scenarios (like FIFO or LIFO) to determine which will give the maximum benefit for your taxes?
  2. For netting purposes, use min-profit / max-loss to minimize tax exposure, and keep as much unrealized gains as possible.