I booked around 10k profit through stock sales over 2022. I have multiple stocks with much larger loss in my etrade and Charles Schwab portfolio and I was supposed to sell one of them to harvest some loss and save on capital gain taxes for 2022. But I forgot to trigger the sale and now markets are closed. What are my options? Any way to still capture some capital loss in 2022.
You will save next year more.
The most you can is 3k so we’re talking about a few hundred in savings.
He could have offset the 10k gain with losses. So 3~4k tax bill down the toilet
So many people incorrectly throw this 3k number around.
No nothing you can do. Unfortunately you are going to have to pay out. You can take 3k deduction for capital loss per year though so given your net payment of 5k it will be okay in the long run.
Is your 10k short term or long term gain? If long term, tax is only about 10% or so.. so not a biggie.. However the reverse having a 10k of loss would have stung.. you would have to carry it over many years
15% or 20% depending on how much you made that year.
It is Saturday. And holidays coming up
Too late for 2022 tax loss harvesting. You still have until April 2023 to contribute to your IRA. It's not a lot but could help with tax deductions which should bring down your overall tax burden
Ur out of luck bud.