Thank you for the reply. I am already familiar with wash sales, and I’m not really that interested in Harvesting losses. What I really want to do is Harvest LTCGs. If you look at my first two image examples, when all of my income was taxable, my Fed tax due was $4,907. When $10,000 was converted from STCG to LTCG the tax due dropped to $3,707, a $1,200 tax saving. That is what I’m hoping to do every year into the future.
The only thing I am still considering is the possibility of Harvesting the maximum $3,000 of STCL each year, but only if the Capital Loss does not reduce the Long Term Capital Gain. I plan to talk to my Tax accountant about that.
The only thing I am still considering is the possibility of Harvesting the maximum $3,000 of STCL each year, but only if the Capital Loss does not reduce the Long Term Capital Gain. I plan to talk to my Tax accountant about that.
Statistics: Posted by PapaGeek — Sun Mar 31, 2024 12:50 am — Replies 10 — Views 1009