11/28/2023 0 Comments Robinhood app taxesThis means she would be left with a profit taxed at the higher short-term capital gain rate, a potentially sub-optimal outcome. Using the “First In, First Out” approach, Robinhood would sell the trader’s share that was bought for $400 less than a year ago. Let’s go back to the Tesla example for a moment. This means that your longest-held shares are recorded as having been sold first when you execute a sell order.” But, as The Wall Street Journal notes, “in the fine print of trade confirmations sent to customers after they’ve sold shares, Robinhood does offer the option of specifying lots. On its website, Robinhood simply states, “Robinhood uses the “First In, First Out” method. Not only does Robinhood not allow for automated lot selection, but it also conveniently omits information that customers do have a way, albeit manual and cumbersome, to sell specific lots.
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