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Tax loss harvesting/ reducing MAGI
Posted on 12/10/17 at 10:49 am
Posted on 12/10/17 at 10:49 am
Am I correct in reading that there is no limit to the amount of losses that can be realized during the year to offset capital gains?
I don’t want our income to be any higher this year and want to unload a bunch of losers that have been held for years to wipe out all gains. Thanks!
I don’t want our income to be any higher this year and want to unload a bunch of losers that have been held for years to wipe out all gains. Thanks!
Posted on 12/10/17 at 11:15 am to eye65
My understanding is you can use losses to offset any capital gains for the year, and up to $3000 in additional losses to offset ordinary income. If you have more, you can carryover to subsequent years.
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