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Reply to "Cashing out investments to pay taxes"
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[quote=Anonymous][quote=Anonymous]Sorry to hear. Live and learn. Luckily I had an issue with them the very first month. I recognized fast that they have no idea what's best for me. Learned to do it all on my own. I have no tax liability to speak of as a consequence. My two tax free accounts returned 100% last year. The company doesn't have the balls to make that happen for me. They have to follow rules. Consider being more involved and hands on going forward. Isn't tax loss harvesting only $3k? Why bother. [/quote] Tax loss harvesting can cancel up to $3K/yr PLUS all your realized gains. So you can 1. Collect dividends or Sell stock A to realize gains 2. Sell stock B to realize losses, canceling A's gains, plus $3K of other (wage) income 4. Reinvest in similar-but-not-"wash sale" securities to re-establish position. [/quote]
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