FAQs  >  Topic: Taxes

Can I elect to assign a specific tax lot to a closing transaction?

An account’s default method, unless we are notified otherwise prior to the settlement of a closing trade, is First-In First-Out (FIFO).

You can elect to have specific lots assigned to your closing trades for stock transactions opened in 2011, Mutual Funds purchased in 2012, and Options transactions in 2014.

If you would like to assign a closing trade to a specific tax lot, please email the information below to [email protected] from the email address of record on or before settlement date of the closing transaction (regular way stock settlement is trade date + 3 business days; options settlement is trade date + 1 business day):

Example: If you sell a stock on Monday, we would need the request no later than Thursday at 1:00 pm CT.

Last four digits of Account Number:

Last Four digits of your SS#:

Date of Birth:

Symbol of position:

Date of closing trade:

Number of shares closed:

Date of opening trade:

Number of shares opened: