| The Investment Lots selection page is displayed by clicking
on Lots
when entering either the sale of a security or when
entering a member withdrawal where stock has been transferred to the
withdrawing member. From this page officers are able to identify
which lots or portions of a lot of stock are sold or transferred.
By default, the lots are selected in a First In, First Out (FIFO)
order.
If lots are selected outside of the FIFO order the officer must
insure that the selection and identification of specific lots has been
done in accordance with
IRS Publication #550
under the paragraphs applicable to
Identifying stock or bonds sold and Adequate identification.
Each individual lot will be listed chronologically by Acquisition Date.
The Cost Basis per Share and the number of Shares Held
in each lot is displayed next to its Acquisition Date. The Selected
field will display the number of shares selected from each lot. This
number may be edited or changed to reflect the number of shares actually
sold or transferred from each lot.
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