Author Topic: tax loss question  (Read 1180 times)

goodrookie

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tax loss question
« on: February 03, 2015, 06:36:31 PM »
How does it work (especially for ETF/index)? How long do I have to wait until I can legally buy it back? and why on the earth would I want to do this (as opposed to sitting tight until the breakeven price)?

stuckinmn

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Re: tax loss question
« Reply #1 on: February 03, 2015, 06:59:28 PM »
Have to wait 31 days to buy it back.  You would do this to harvest losses so you could reduce your ordinary income up to 3000 or offset other gains.  Just sell it, take the loss and immediately buy something similar.  Sell s&p 500 at a loss, buy total market index.

goodrookie

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Re: tax loss question
« Reply #2 on: February 04, 2015, 05:21:47 PM »
any limitation on how many times you can do this with a particular stock?

johnny847

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Re: tax loss question
« Reply #3 on: February 04, 2015, 06:17:16 PM »