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Senate Tax Bill: How much will FIFO cost you?

Senate Tax Bill: How much will FIFO cost you?

*UPDATE: The bill passed without the FIFO restriction, but the article is still useful in understanding different tax implications for accounting. There’s a portion of the new Senate Tax Bill that is terrible for retail investors, that most might not understand. It has to do with accounting methods applied to the selling of financial instruments. To start, cost basis is the purchase price for the security. You need to pay gains on your security when you sell it. If the…

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