After a strong year for the stock market, tax-gain harvesting could help rebalance your portfolio and save on future taxes.
You can use the 0% bracket to reset your"basis" or original purchase price, by selling a profitable asset and then immediately repurchasing., involves strategically selling your profitable brokerage account assets during lower-income years. That could include early years of retirement or periods of unemployment.
You can also reset your"basis" or original purchase price, by selling a profitable asset and then immediately repurchasing, CFP Sean Lovison, founder of Philadelphia-area Purpose Built Financial Services, previously told CNBC.blocks the tax break if you rebuy a"substantially identical" asset within a 30-day window before or after the sale. But the same rule doesn't apply for harvesting gains.
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