Looking4Ward
Full time employment: Posting here.
I've been holding Vanguard Energy (VGELX) in my taxable account for over a year and it currently has a $20K loss.
I personally don't think we'll see energy improving much over the next quarter so I've been thinking of doing my first ever TLH so that I can offset other CG gains and tIRA to Roth conversions this year.
If I understand the process correctly, I can sell this fund at a $20K CG loss and move the proceeds into a similar but not like fund.
If that's true, what "similar" energy fund could I move the proceeds into? Or would it be better to keep the proceeds in my cash broker account and wait the 31 days (actually 60 per VG's policies) and then put it back into VGELX?
I personally don't think we'll see energy improving much over the next quarter so I've been thinking of doing my first ever TLH so that I can offset other CG gains and tIRA to Roth conversions this year.
If I understand the process correctly, I can sell this fund at a $20K CG loss and move the proceeds into a similar but not like fund.
If that's true, what "similar" energy fund could I move the proceeds into? Or would it be better to keep the proceeds in my cash broker account and wait the 31 days (actually 60 per VG's policies) and then put it back into VGELX?