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I was curious what disposal method fidelity was using for my transactions so I asked the robot assistant if fidelity uses first in first out method for shares, which means the first shares of a stock you owned are the ones that it sells, which doesn't necessarily end up with you paying the lowest amount of taxes which is, to me, about the only thing someone would care about with this sort of deal.

So what I did was switched to a new algorithm they have, called tax sensitive, which figures out what share or shares you would have to sell in order to have the lowest hit on your taxes owed. I'm not a big trader but I do rebalance my asset allocation a few times a year.

It's under accounts and trade, update accounts and features, and the cost basis option on the left will guide you to all the choices you have.



Submitted October 27, 2021 at 08:42AM by RainbowUnicorns https://ift.tt/3GrgPgL

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