Looks like the enforcement of First-in-first-out tading rule is taken out from the final tax bill, which is good for individual investors who trade some positions around their core positions of a stock.
The provision requires that the cost of any specified security sold, exchanged, or otherwise disposed of on or after January 1, 2018, be determined on a first-in first-out basis except to the extent the average basis method is otherwise allowed (as in the case of a taxpayer holding shares in a RIC). The provision does not apply to sales, exchanges, or other dispositions of specified securities by RICs. The provision includes several conforming amendments, including a rule restricting a broker’s basis reporting method to the first-in first-out method in the case of the sale of any stock for which the average basis method is not permitted. Effective date.-The provision applies to sales, exchanges, and other dispositions after December 31, 2017.
The conference agreement does not include the Senate amendment provision.