State Street has beefed up its Web-based program to find tax-lot stock transactions in order to avoid short-term taxes and capitalize on losing portfolio holdings. The company initially developed its Tax-Efficient Lot Selector (iTELS) to help customers determine when to make wash sales of individual investments.

A wash sale constitutes the divestiture of any security that is purchased within 30 days of a loss stemming from the sale of any identical security.

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