gains/losses strategy query


M

MB

I am not sure about the strategy here. I currently have net short term
gains.

I also have long term gains, includes gains taken recently so they qualify
for the favored tax.

My question: I have some stocks that I've owned for a few years. These are
showing a loss. I would just as soon sell them either now or in January. I'm
not sure which is best. If I sell now, won't it reduce my tax favorable long
term gains. I'd rather have it reduce income subject to a higher tax. Can
this be done??

Any ideas?

Mel
 
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P

Paul A Thomas

MB said:
I am not sure about the strategy here. I currently have net short term
gains.

I also have long term gains, includes gains taken recently so they qualify
for the favored tax.

My question: I have some stocks that I've owned for a few years. These are
showing a loss. I would just as soon sell them either now or in January. I'm
not sure which is best. If I sell now, won't it reduce my tax favorable long
term gains.
Yes, it would.
I'd rather have it reduce income subject to a higher tax. Can
this be done??

Yes, sell in January, and have no other capital gains that will offset the
losses. Up-to $3000 of capital losses will off-set ordinary income.
 

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