If stock sold or exchanged is not specifically identified,the FIFO (first-in,first-out)method of identification must be used.

Name: If stock sold or exchanged is not specifically identified,the FIFO (first-in,first-out)method of identification must be used.
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Quizplus · Accepted Answer

This is true according to the IRS guidelines. If the stock sold or exchanged is not specifically identified, the default method for identification is FIFO (first-in, first-out).

If Stock Sold or Exchanged Is Not Specifically Identified,the FIFO