Quote:
Originally Posted by Jeff P
It appears you are correct about FIFO being cut from the bill.
FIFO Rule Reportedly Cut from Tax Reform Bill:
http://www.wealthmanagement.com/indu...ax-reform-bill
Fyi, when I posted about this yesterday I was pretty worked up.
That said, even though the FIFO provision has now reportedly been cut from the bill -- the thought it was in there in the first place has me equally worked up.
A FIFO provision being written into the bill in the first place means that some Senator somewhere -- or worse a group of Senators collaborating on the bill -- actually believed (or still believes) that beating up individual investors is a good idea.
-jp
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FIFO would have impacted hedge funds and other large money managers a lot more than it hit any but the wealthiest individual investor. You can thank their influence for it’s absence.
I’m agnostic on it’s inclusion. I’ve never in 30 years considered what lots I was selling since I’ve generally held everything more than 2 years but I understand why it would be important to others.
