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I've been thinking of converting some of my small cap index funds and S&P 500 index fund into a total stock market index fund to harvest the capital loss. But as I understand it in the future(when I sell shares at a price that i hope is higher than what I initially paid) I would owe more capital gains tax than if I simply held on to what i own now. Doesn't this place me at risk that cap gains rate may increase in the future? The last few months have significantly increased the time to ER for me. I am very comfortable with the buy and hold philosophy. If selling now would increase my future cap gains liability I would rather just hold on now. I'd appreciate any thoughts.
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