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

📆 26/08/2024 02:14 p. m.
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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.

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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