Tax loss harvesting involves utilizing losses to minimize taxes. When selling a profitable investment, you become subject to capital gains tax. 💰However, if you have other investments that have incurred losses, you can leverage them to decrease the capital gains tax owed. 📈It’s important to note that certain regulations apply to this practice.
You can offset short-term capital losses against both short-term and long-term capital gains. Conversely, long-term capital losses can only be offset against long-term capital gains. ⌛⚖️
Disclaimer- The information provided on our platform is intended only for simplification and education purposes, and should not be considered as an investment advice.
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Posted On: 09 Aug 2023 5:47 PM
