Tax loss harvesting involves utilizing losses to minimize taxes. When selling a profitable investment, you become subject to capital gains tax. đ°However, if you have other investments that have incurred losses, you can leverage them to decrease the capital gains tax owed. đItâs 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. ââď¸
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Posted On: 09 Aug 2023 5:47 PM
