Sell Losing Stock to Offset Gains..... With the deficit our government is currently facing, increased taxes is a given. If your modified adjusted gross income is over $200,000 for a single taxpayer or $250,000 for married filing joint taxpayer, and you have capital gains, the 3.8% net investment income tax will probably affect you. In an effort to minimize that potential tax liability, here is a tip that may benefit you. If you sold stock or investment property in 2014 and are looking at large capital gains, you may want to consider selling some of your stock that is losing money to offset those gains. Just be aware that long-term capital losses first offset long-term capital gains and that short-term capital losses first offset short-term capital gains.
Posted on: Thu, 20 Nov 2014 21:34:09 +0000
Trending Topics
Recently Viewed Topics
© 2015