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re: Selling stock to buy foreclosure
Posted on 1/5/24 at 8:45 am to Drizzt
Posted on 1/5/24 at 8:45 am to Drizzt
Probably more important than the the tax vs interest considerations, are you overweight these individual stock positions and what is their forward outlook. It may be time to trim those anyway. Also, you're going to eventually pay LTCG on them unless you anticipate holding until death, selling in a very low income year while in zero LTCG rate or donating shares. Unless the sale would trigger NIIT (additional 3.8% tax) or you plan to move to a state with lower tax on LTCG there may not be much advantage to putting of the LTCG bill.
Posted on 1/5/24 at 9:12 am to TorchtheFlyingTiger
Some of the bank stocks are up 30% so I was thinking of taking some profits. I think the regional bank sector could take a mini crash again if a few go down suddenly due to rate issues. I usually hold for 50-100% gains before selling. I could probably justify selling $20k for profit taking and HELOC the rest.
Thanks for helping me think this out fellas.
Thanks for helping me think this out fellas.
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