stock sale for loss?

Question

How do I document the sale and sell shares of a company purchased more recently for a short term capital loss instead of selling my longest held shares in the company for a long term capital loss? I am interested to make sure I document this properly for tax purposes and sell the shares I purchased most recently through my online brokerage account.

Answer 1

"To identify the shares you're selling you need to do two things:

At the time of the transfer, specify to the broker the shares you are selling, and

Within a reasonable time thereafter, receive a written confirmation of that specification from your broker."

This is an extract of a more complete discussion on identfying the shares at

http://www.fairmark.com/capgain/ident.htm

Answer 2

It is not possible as income tax department recognises FIFO method for accounting stock gain/loss. Under this method stock bought first is treated as sold when a sale takes place.

Answer 3

Because
we want profit
so we sale for loss...............
profit ke liye ok
!