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1st World: No Tax Loss Harvesting This Year
Old 12-29-2020, 09:57 AM   #1
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1st World: No Tax Loss Harvesting This Year

Seems I have a First World problem: with such great Wall St results this year, I don't have any tax loss harvesting that can be done here at year end

I did not sell anything when the Feb/March drop occurred, ans subsequently all of my investments are up this year. All are in diversified funds, and all of them even some bond funds, are up in value for the year.


I am not complaining, just making an observation.
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Old 12-29-2020, 10:05 AM   #2
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I'd much rather have all gains than be able to have losses to harvest. However, this year I was able to take some pretty good losses very near the low in March while buying a different fund that now has large unrealized gains. So I'm able to offset a gain on a townhouse sale this year, and have losses to carry over a number of years unless I sell those taxable winners.
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Old 12-29-2020, 10:08 AM   #3
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Quote:
Originally Posted by 38Chevy454 View Post
Seems I have a First World problem: with such great Wall St results this year, I don't have any tax loss harvesting that can be done here at year end

I did not sell anything when the Feb/March drop occurred, ans subsequently all of my investments are up this year. All are in diversified funds, and all of them even some bond funds, are up in value for the year.


I am not complaining, just making an observation.
Give me some of your money and i'll get you some tax-loss havesting. I am so good at bad investing that I will be able to tax harvest the maximum loss every year for over a decade.
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Old 12-29-2020, 10:30 AM   #4
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Not a big deal under the ACA cliff.
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Old 12-29-2020, 10:33 AM   #5
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I was "lucky" to have shares in every cruise line.... they are big losers. Some may still not survive.
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Old 12-29-2020, 10:57 AM   #6
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I was "lucky" to have shares in every cruise line.... they are big losers. Some may still not survive.
I had almost 1/3 of my net worth invested in a small off shore oil company that has lost over 99% of its value since I bought it and will likely go bankrupt in 2021. I still own the majority of the shares that I started with.
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Old 12-29-2020, 01:14 PM   #7
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We have a larger holding with taxable gains, and were able to sell a portion and offset with oil company and other losses. Not a life-changing event, but also were able to diversify the cash to a broad ETF.
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Old 12-29-2020, 01:23 PM   #8
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I had almost 1/3 of my net worth invested in a small off shore oil company that has lost over 99% of its value since I bought it and will likely go bankrupt in 2021. I still own the majority of the shares that I started with.
Oof. That seems like a cautionary tale! Hopefully the other 2/3rds has made up for it!
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Old 12-29-2020, 02:01 PM   #9
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I only have one substantial loser Kinder Morgan Energy (KMI).
It was an MLP until December 2014, when they restructured into a conventional company. I was elated, no more entering K-1 info on my tax return!

The cost basis was a little over $40.00 per share. It's now trading at 13 & change. Over the past 6 years, at times I'd ask myself why are you holding onto this worthless stock ?

Thank God I didn't listen to myself. I'm going to need to do a little tax loss harvesting this year. I've never been so thankful to have a loser in my portfolio!
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Old 12-29-2020, 02:30 PM   #10
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Not a bad problem to have!

I don't have much at Fidelity, but I exchanged FZROX(Zero TSM) for FNILX(Zero S&P 500) back in March and realized a little $8K short term loss at Fido. The unrealized gains on FNILX more than double that.

It won't offset much of the capital gains I've received, but it helps. That's the only tax maneuvering I did this year.
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Old 12-29-2020, 03:42 PM   #11
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I had almost 1/3 of my net worth invested in a small off shore oil company that has lost over 99% of its value since I bought it and will likely go bankrupt in 2021. I still own the majority of the shares that I started with.
Ouch!
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Old 12-29-2020, 04:11 PM   #12
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I was lucky, I did some tax loss harvesting in April and it has paid off.
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Old 12-29-2020, 04:15 PM   #13
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I did quite a bit of fund exchanging in March/April and I got take some capital losses as well as move to more tax efficient funds.

But I would have done even more if the markets hadn't recovered quite so quickly. I really had very little time to pull it off.
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Old 12-29-2020, 04:36 PM   #14
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Originally Posted by FDC319 View Post
Not a bad problem to have!

I don't have much at Fidelity, but I exchanged FZROX(Zero TSM) for FNILX(Zero S&P 500) back in March and realized a little $8K short term loss at Fido. The unrealized gains on FNILX more than double that.

It won't offset much of the capital gains I've received, but it helps. That's the only tax maneuvering I did this year.

I probably should have done the same basic thing, exchanging funds to capture the losses. Instead I just sat and did nothing. Been a fun ride back up since the sharp recovery that I had not anticipated, but missed out on some potential loss harvesting at that time. You did good FDC319 to do some fund exchanging.

As I said in orig post, I am not complaining, just making the observation that I have no investments with any net loss for 2020. So any cap gains will only have some prior year carryover loss offsets.
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Old 12-29-2020, 04:37 PM   #15
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Should have plowed that field early this year when market took it's dump.
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Old 12-29-2020, 05:12 PM   #16
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Hey, you can donate up to your AGI this year - so there's that.
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Old 12-29-2020, 05:13 PM   #17
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I was fortunate to take some tax loss harvesting in March to offset some of my gains in Boeing when I dumped it at $310.
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