10 Tips for Harvesting Investment Losses
Summary
Host Robert Broekamp outlines ten strategies for maximizing tax benefits through loss harvesting and gain management in taxable accounts. He explains how to offset short- and long-term gains, avoid wash sales, and select specific cost basis methods to minimize tax liability. The episode also covers the advantages of harvesting gains for low-income investors, the trade-offs of resetting cost basis, and using charitable donations or inheritance to eliminate capital gains taxes.
Topics discussed
Introduction: Turning investment losses into tax benefits
Tip 1: Tax loss harvesting applies to more than just stocks
Tip 2: Matching short and long-term gains and losses
Tip 3: The wash sale rule and the 30-day waiting period
Sponsor: Claude AI for problem solvers
Sponsor: Rippling AI for business data
Tip 4: Avoiding wash sale violations and finding similar exposure
Tips 5 & 6: Managing cost basis and specifying shares to sell
Cost basis rules for stocks, funds, and bonds
Sponsors: Schwab Market Update and LinkedIn Hiring Pro
Tip 7: Harvesting gains for low-income investors
Tip 8: Transaction costs and market timing risks
Tip 9: When tax loss selling may not make sense
Tip 10: Bequeathing or donating shares to avoid gains
Conclusion and show credits
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