Selling Stocks That You Didn't Buy First (IBKR)

Discussion in 'Retail Brokers' started by Helix404, Jan 9, 2021.

  1. Helix404

    Helix404

    E.g., I bought 1 SPY stock on January 7th, 2021, then 1 SPY stock on January 8th, 2021. I'm planning to hold them for exactly one year. For tax purposes, can I sell the stock I bought on January 8th, 2021 first on IBKR?
     
  2. BMK

    BMK

    I can't tell you how to do it in IBKR, but there should be an option that allows you to choose which lot you are selling, or an option that allows you to select a method for determining your cost basis... at least these options should be there if your account is based in the USA. Don't know about other countries.

    For example, Schwab gives you this screen, with a choice for "specified lots," meaning you choose exactly which shares you are selling.

    Schwab_2223.png

    BMK
     
    Last edited: Jan 9, 2021
  3. In TWS check out Account - Tax - Tax Optimizer.

    Or on the web page in the Account Portal - Reports - Tax Optimizer.
     
    MoreLeverage likes this.
  4. VicBee

    VicBee

    TDAmeritrade doesn't allow anything other than FIFO (First In First Out) in Singapore and I suspect in the rest of the world where they operate, except the US. It's one of my pet peeves with them...