I recently did my first taxes as a retired person (retired last year) and it appears I misunderstood how much of the dividends and gains would fit in the zero percent tax bucket.
So now I'd like to receive more dividends. I'd always read that a person should not sell investments until they were long-term, but the majority of my investments are short-term.
I'd like to sell some of the ETF investments that are paying very low dividends and buy similar (probably, maybe different sometimes) mutual funds that pay out more dividends.
I'd like to sell ONEQ (nasdaq composite index) and IVV (s&p 500), then buy FNILX (large cap index).
I DCA'd the money in for the past year so there are some purchases that have a gain and some that have a loss.
My questions are, is it really that bad to sell short-term as long as I am careful to not have much total gain? And if I select gain and loss that balance out from the ONEQ pot, will I run into any wash sale issues going from nasdaq to large cap, and would I have to be careful to not sell any other large cap type investment for the next 30 days?
So now I'd like to receive more dividends. I'd always read that a person should not sell investments until they were long-term, but the majority of my investments are short-term.
I'd like to sell some of the ETF investments that are paying very low dividends and buy similar (probably, maybe different sometimes) mutual funds that pay out more dividends.
I'd like to sell ONEQ (nasdaq composite index) and IVV (s&p 500), then buy FNILX (large cap index).
I DCA'd the money in for the past year so there are some purchases that have a gain and some that have a loss.
My questions are, is it really that bad to sell short-term as long as I am careful to not have much total gain? And if I select gain and loss that balance out from the ONEQ pot, will I run into any wash sale issues going from nasdaq to large cap, and would I have to be careful to not sell any other large cap type investment for the next 30 days?