Objective
Compare FIFO and Smart Tax Lots sensitivity on representative strategies.
Notes: Compared FIFO and Smart Tax Lots on preregistered 60/40, Permanent Portfolio, and ADM histories. Pre-tax equity was identical; partial-sale static allocations changed realized character but tax-drag deltas were +0.0076 and +0.0371 pp, while whole-position ADM was identical. None crossed the 0.10 pp materiality threshold.
Approach
Reuses existing report research/findings/catalog-tax-lot-sensitivity-t262.md — tables/metrics preserved verbatim via source_report pointer. Body below summarizes grounded evidence from that report and adjacent artifacts.
Files / code / data changed
- No commit SHA confidently associated with
t262in sampled log [reconstructed — uncertain]. - Source report:
research/findings/catalog-tax-lot-sensitivity-t262.md - Task-history entry:
research/findings/task-history.json#t262
Results
Key table from source report (preserved):
| Strategy / method | Effective period | Turnover | Realized short-term | Realized long-term | Estimated tax paid | Pre-tax CAGR | Tax-adjusted CAGR | Tax drag |
|---|---|---|---|---|---|---|---|---|
| 60/40 / FIFO | 1962-03-31–2026-07-31 | 6.3179 | -$495.94 | $7,918,007.24 | $1,583,502.26 | 8.5825% | 7.5770% | 1.0054% |
| 60/40 / Smart | same | 6.3179 | $26,087.84 | $7,862,912.46 | $1,582,486.76 | 8.5825% | 7.5694% | 1.0131% |
| Permanent Portfolio / FIFO | 1993-03-31–2026-07-31 | 5.2194 | $1,770.48 | $483,423.45 | $97,345.81 | 6.6864% | 5.7039% | 0.9825% |
| Permanent Portfolio / Smart | same | 5.2194 | $8,872.09 | $476,950.73 | $98,672.82 | 6.6864% | 5.6668% | 1.0196% |
| ADM / FIFO | 1997-03-31–2026-07-31 | 113.0000 | $757,300.03 | $64,364.47 | $296,077.46 | 9.6212% | 6.4669% | 3.1544% |
| ADM / Smart | same | 113.0000 | $757,300.03 | $64,364.47 | $296,077.46 | 9.6212% | 6.4669% | 3.1544% |
Conclusions and metrics are in research/findings/catalog-tax-lot-sensitivity-t262.md; see detail page for preserved tables/metrics.
Conclusions
[reconstructed — uncertain] Outcome inferred from status done and task note.
Problems / follow-ups
- See source report or PR discussion for follow-ups. No unsupported follow-ups fabricated.
Links
- Task-history:
research/findings/task-history.jsonidt262 - Findings:
research/findings/catalog-tax-lot-sensitivity-t262.md