Quote:
Originally Posted by XLexusTech
These would be outside a 401k and I think I can select the ‘lots’ I can sell from and be over any cap gains
Here is an example I purchasec Facebook at the IPO
How can I take some of that money off the table without it being income tax?
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Losses on your investments are first used to offset capital gains of the same type. So short-term losses are first deducted against short-term gains, and long-term losses are deducted against long-term gains. Net losses of either type can then be deducted against the other kind of gain.
SO —- in other words —- if you have some losses you plan to take anyway — see that they’re long term or short term losses — harvest those - calc your loss and take a matching gain.... bingo — zero tax