Planning Briefs
Why You Might Harvest Gains Now
Published Wednesday, September 16, 2015 at: 7:00 AM EDT
Here's an unconventional approach for investors who want to minimize taxes on investment profits. Instead of focusing on harvesting losses at the end of the year, you might consider realizing gains now by selling some of your winning positions. You could leave the losers in your portfolio to use next year or later.You should not completely discount the tax benefits of capital losses, which you can use to offset capital gains plus up to $3,000 of highly taxed ordinary income. Losses can be especially valuable if you already realized short-term capital gains—which will be taxed as ordinary income—earlier this year.Still,...
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