I am planning to diversify my stock portfolio from a single stock to a booglehead style 3 fund protfolio. I want to avoid the capital gains tax that I will incur after selling my stocks. I will gain around 60k in profits. My net work is below 1M so I don’t think I qualify for exchange funds. #tax Any other ways to avoid capital gains tax? TC: 250k YOE: 5
you have to pay long term capital gains which sucks
What % of 60K will be your capital gain taxes?
Just pay the 9k and move on. If you have losses to carry over, you can offset
No alternative. Bad planning. Got to pay price.
Loss harvesting is your best option unless your shares are held in a tax-deferred fund such as a 401K.
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you can use tax harvesting if you have losses in your portfolio . note this can be done only upto 3k which is a miniscule assine amount.
No you can do an unlimited amount when you are matching capital gains against losses, the 3k limit is for using capital losses against regular income
When people talk with authority but have no clue how anything works…