Question
What is the HIFO sell method?
Answer
Investors may elect HIFO (high in, first out) as an alternative sell methodology. With HIFO, securities are sold from the lots with the highest cost first. Adopting this sell methodology may be a more tax efficient strategy to consider when you own multiple tax lots of the same security. GainsKeeper offers investors the option to have the trades in their account processed by the HIFO method.