Here's how to harvest 0% capital gains amid the latest stock market rally

📆 26/08/2024 2:04 p. m.
📰 NBCNewYork

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You can leverage the 0% capital gains bracket to harvest profits, rebalance your portfolio or save on future taxes. Here’s what investors need to know.

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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