Investment Lots

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 is where you will enter the number of shares actually sold or transferred from each lot.

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