twaddle
Thinks s/he gets paid by the post
- Joined
- Jun 16, 2006
- Messages
- 1,703
Sold and then immediately bought back similar stuff. Finally have some tax losses to harvest! Woohoo!
Ditto! I've saved myself thousands of dollars in taxes!!! Woohoo!Sold and then immediately bought back similar stuff. Finally have some tax losses to harvest! Woohoo!
Ditto! I've saved myself thousands of dollars in taxes!!! Woohoo!
Not quite. I will use the losses to offset ordinary income and short term gains taxed at 33%, but the replacement gains will be held long term and those gains will be taxed at 15%. So that means Uncle Sam pays for 18% of my losses.Isn't the term 'deferred'?
I did move $2K from cash into VTSMX for my kids' college today. But I would have done that soon anyway...it was sort of a discretionary buy.
Other than that and the typical paycheck 401(k) contribution, just standing pat.
2Cor521
I'm not sure about selling one ETF that tracks some index, and buying a different ETF that tracks the same index. I'd guess that creates a wash sale as well, but I don't know for sure.