When closing an equity or single-leg options position, you can choose specific lots for tax reporting of realized gains or losses. The ability to choose specific shares is available for eligible accounts, security types, and valid order actions. When available, a LOTS indicator will appear in the trade ticket. Select the LOTS indicator to access and specify shares.
Note:
If lots are not specified when an order is placed, the shares will be sold according to your disposal method. The first in, first out (FIFO) method will deplete shares of the security in the order in which they were accumulated in your account. To update your default lot relief method, navigate to Account Features from the Accounts menu and select Cost Basis Information Tracking.
To update lots after a trade is placed before settlement, navigate to Account Features and select Reassign Lots or call your Fidelity representative.
Fidelity does not validate lots for securities not purchased at Fidelity. Ultimately, it is your responsibility to maintain accurate tax records.
You can specify lots during the trade entry process on the Standard and Multi-Trade tickets for closing transactions on Sell and Buy to Cover equity orders, and Sell to Close and Buy to Close option orders. To identify specific lots, use the LOTS icon on the trade ticket. You may specify all or some of the shares included in the transaction. Any unspecified shares will be sold according to your default method.
Viewing Specified Lot Detail
You can view specified lot details on both the Trade Preview and Confirmation steps by selecting the LOTS icon. If applicable, lot information will also be displayed in the Orders tool when the order detail is expanded.
In some instances, lot detail information will not be retained when attempting to cancel and replace an open order. A trade warning will be presented during the Cancel/Replace process if lot details are not able to be retained on the order. In general, orders that are partially executed or orders for which the quantity is being changed will not retain specified lot details.