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.
For example, a married couple earning $120,000 in 2024 could still fall below the $94,050 taxable income threshold after subtracting the $29,200 standard deduction.Tax-gain harvesting offers a couple of benefits, including rebalancing your brokerage assets without triggering gains, experts say.
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