Changing sale allocation methods

Reporting & tax
1

I have made some recent sell trades and want to change the sale allocation method from FIFO to LIFO in my Sharesight portfolio. How do I do this?

2

Reports, Capital Gains Tax Report, then their is a button to change sell allocation method.

3

Hi @Stephanie

You can select change sale allocation in the CGT report.

A lot of people also want to carry forward losses from previous years this can be done using “advanced options”

Image below for reference:

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4
  1. Click on CGT report.
  2. On the top right side click on Change Allocation Method
  3. It opens the window where you choose the stock that needs changing and you choose from FIFO to LIFO , Minimise Gain , Maximize Gain etc . Default is FIFO.
    Cheers
5

Hi
Just investigating system capabilities and the question of selecting specific lots rather than allocation algorithms arises. ATO supports this approach as does my current software, but your answer and online help suggests it doesn’t. Can you clarify please?

Thanks
James

6

Hi @js.mcskimming Sharesight doesn’t support parcel allocation at the moment. We only support FIFO, LIFO, Minimise Capital Gain, Maximise Capital Gain and Minimise Capital Gain tax methods.