Explore tax loss selling
As investors, we hate selling at a loss because we are conditioned to buy low and sell high. But selling at a loss, however painful, can have some serious tax advantages, particularly in higher income years. You can use that capital loss against capital gains you’ve had in this tax year, as well as the previous three years. If that doesn’t help, you can carry if forward indefinitely. It’s important to note that December 27th is the last day to complete trades for 2017.
for year-end tax tips!!!
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By Jason A. DeJean, CFO, PFP, EPC, CPCA