I'm not sure how this works. I'm hoping somebody could help me with this:
One share of stock ABC purchased for $1.
A few years later another one share of stock ABC is purchased for $4.
A few years later one share of stock ABC is sold for $5.
Is the capital gain $4 or $1?
Is the capital gain based on a FIFO or LIFO kinda deal - or something else altogether? Thanks in advance!
One share of stock ABC purchased for $1.
A few years later another one share of stock ABC is purchased for $4.
A few years later one share of stock ABC is sold for $5.
Is the capital gain $4 or $1?
Is the capital gain based on a FIFO or LIFO kinda deal - or something else altogether? Thanks in advance!