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Originally Posted by _______
FIFO is out of the final bill. Multiple reports on this...
Should be interesting.
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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
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The so-called "first-in, first-out" or FIFO rule, requiring investors with taxable brokerage accounts to sell shares they've owned the longest first, has reportedly been cut from the tax reform bill.
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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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