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Can the cost averaging method be used for calculating the cost basis of stocks, or is it limited only to mutual fund shares?

April 26, 2017averaging basis calculating COST limited method mutual fund Shares stocks Used

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Can the cost averaging method be used for calculating the cost basis of stocks, or is it limited only to mutual fund shares?

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The average basis method may be used only for mutual fund shares that were purchased at various times for various prices if the shares are left in the custody of a custodian or agent in an account maintained for the acquisition or redemption of the shares.