What securities are best for tax-loss harvesting?
An example of an AI chatbot conversation about tax-loss harvesting strategies.
What securities are best for tax-loss harvesting?
Tax-loss harvesting involves selling securities at a loss to offset capital gains. Generally, you might consider stocks, ETFs, or mutual funds that have decreased in value.
Are there specific types of stocks I should focus on?
Yes, look for stocks that have underperformed compared to the market or your portfolio. Technology and biotech stocks often have high volatility, which can create opportunities for tax-loss harvesting.
How do I avoid the wash sale rule?
To avoid the wash sale rule, ensure you don't repurchase the same security or a substantially identical one within 30 days before or after the sale.
Can I use tax-loss harvesting for my retirement accounts?
No, tax-loss harvesting is only applicable to taxable accounts. Losses in retirement accounts like IRAs or 401(k)s cannot be used to offset gains.
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