I have a bunch of stock I've received as bonuses through work that I am planning to sell a to fund the down payment on a house. (Yay, diversifying investments!) Unfortunately, with the recent convulsions in the stock market, roughly half of my shares are worth less than what I acquired them at, and the remaining half are worth more than when I acquired them. I need to sell about 50% of my stock to fund our down payment.
I've read a bunch of different things about selling stock at a loss, and I still can't figure out what the right approach should be. I could:
A: Sell only older stock that I've made money on and pay some long-term capital gains. (I don't have any short-term gains, so I don't need to worry about that.)
B: Sell only newer stock that I've lost money on and take the $3000 tax credit and roll over the remaining tax credit to next year.
C: Sell some combo of new and old and try to get to a net 0 gain, so I don't pay capital gains tax or get a tax credit.
My thinking is that since I'm about to buy a house, I should probably try to maximize my tax credits for this year, and go with Option A.
Is this logic right?
Submitted November 21, 2018 at 02:12AM by apples_and_cheese https://ift.tt/2PHrEEx
