I am thinking about selling one of my losing stocks. It was a poor purchase - I bought it too high and it has gone down ever since. I was thinking I should sell it before the end of the year and then I could take it as a loss on my income taxes? Anything I should be aware of in doing this? I do not plan on buying back into this stock or anything like that. Thanks for any advice.Something to think about that I don't think applies to your situation but bit me this year is that I'm in the 15% bracket this year. I sold some stock at a loss, and it's netted against my other gains. Great you think. But since I'm in the 15% bracket, my gains are taxed at 0%, negating any savings I get from the capital loss. Was a bummer when I finally ran the numbers last week to estimate my tax bill and saw no change in my liability when I entered in my capital gains.
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