I have to sell some stocks in portfolio to pay contractors. Didn't plan on doing that but a money whoch was supposed to be paid back to me is not arriving on-time. Should I see stocks which have made me profit or the ones at loss currently? I have stovks like FB, SNAP, which are green, on the other hand oil etf, Boeing, delta airlines, yelp, which are red. I have a lot of MSFT rsus with big profits but if I sell I have to pay full income tax. I was planning to sell after a year.#personalfinance #investments
Stonks only go up!
It also depends on your portfolio imo. If you have stocks at a loss you can sell them (short or long) get your money, offset any capital gains that year or use the capital losses to deduct them from your ordinary income (there is a limit)
Assuming you are American, * Keep everything you bought less than a year ago. * Sell the highest earning stocks until you get to your preferred CG tax band. * Sell stocks to the same amount of gains and losses this year. * Sell stocks making losses.
Why does it matter if OP is an American? Anyone legally residing in the US and paying taxes have the same set of rules (you will be considered a tax resident )
s/American/US taxpayer/