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  • tanishasahu0911

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    6 months

    Should I do a tax harvesting before year end?

    basically this year I've been experimenting and trading stocks. I've made more profits than I took losses. Since it is end of year I am expecting a tax form 1099 from my brokerage. I am stil holding some stocks that are massive losses. Next year It could go up, but I was thinking wouldn't it be wiser to just sell off these stocks tomorrow and then rebuy them at a lower price next year, for tax purposes? Like taking more losses right now will give me some funds but also will probably negate all the profits I made so I pay lower taxes. Thoughts?
    5

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