Do you know by chance, if can I use wighted average instead of FIFO to calculate basis for 2017?
it is hard for me to comprehend how FIFO works because I have 50 or 60 buy/sell transactions...
or is there any simple way to calculate FIFI in case of multiple SELL and BUY transactions?
I don't think you can use a weighted average method. These are the available methods I'm aware of:
Average Cost
First-In, First-Out (FIFO)
Last-In, First-Out (LIFO)
High-Cost, First-Out (HIFO)
Low-Cost, First-Out (LOFO)
Specific Lot Identification (SLID)
However, the
average cost method is only available for mutual funds. I'm not sure if HIFO or LOFO can be used here either.
You might want to google for an Excel FIFO formula for capital gains. I'm pretty sure I've seen stuff like that around. I use specific lots myself since I don't trade very often.