The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Matching Gains to Losses||Date: 4/12/1999 10:44 AM|
|Author: Bob78164||Number: 14460 of 121061|
Can long-term losses be used to offset short-term gains?
I have some long-term carryovers and some stocks that I think will undergo pullbacks before long.
If the long-term carryovers can be used to offset short-term gains, it would probably be worth my while to sell and rebuy, rather than toughing it out through a pullback.
Yes, as you can confirm by walking through Schedule D. But your plan may run afoul of the wash sale rule, which forces you to defer losses incurred after a sale for a loss if you purchase the same securities within 30 days before or after the sale for loss. --Bob
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