At the start of this year, I invested some money. It went two ways during the crash in March.
I pulled out of a few stocks, locking in short term losses (around 50K).
I stayed in a few other stocks and funds. Come year end, they have brought me ~60K in paper gains. I had intended for these to be long term (over decades).
I took a sabbatical and don't have ordinary income this year. Should I do nothing and carry over the losses at 3K/year, or does it make sense to realize 50K of short term gains, and then buy back in for my long term investments? (I thought I had to wait 30 days but realized wash sale only applied to losses and not gains)
Would appreciate some input on this!
Submitted December 31, 2020 at 12:15AM by taxthrowaway00 https://ift.tt/3o13Dpa
