When selling stocks, which method of calculating basis provides the greatest opportunity for minimizing gains or increasing losses?
A)LIFO.
B)FIFO.
C)Weighted average.
D)Specific identification.
E)None of the choices are correct.

Question

Quizplus · Accepted Answer

Specific identification method allows the taxpayer to choose which shares to sell and therefore can result in the greatest opportunity for minimizing gains or increasing losses.

When Selling Stocks, Which Method of Calculating Basis Provides the Greatest