Ncc1701
Recycles dryer sheets
Hi All,
When we retire in a couple of years, the only income we'll have initially is pension income which will be less than $70K. Since this is less than the $80,800 threshold for 0% cap gains tax, I'm thinking that would be a good year to immediately liquidate everything in our taxable account in order to realize the substantial gains that have built up over the years. I would then buy back the same securities the next day.
Am I missing something here? Why don't more people do this? Thanks for your input.
When we retire in a couple of years, the only income we'll have initially is pension income which will be less than $70K. Since this is less than the $80,800 threshold for 0% cap gains tax, I'm thinking that would be a good year to immediately liquidate everything in our taxable account in order to realize the substantial gains that have built up over the years. I would then buy back the same securities the next day.
Am I missing something here? Why don't more people do this? Thanks for your input.