The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Locking in tax-free cap gains||Date: 3/21/2013 11:48 PM|
|Author: Wradical||Number: 118109 of 121564|
What am I missing?
(As Phil said:)
1. There's no need to wait 31 days before repurchasing. You're thinking of the wash sale rule, which applies only to sales for a loss.
2. Don't forget the effect of commissions.
3. Don't forget the effect on state taxes
AND - the gain increases your AGI, which may affect a number of provisions that involve phaseouts of deductions and credits, or the taxable portion of Social Security.
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