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It's complicated, based on your total income and net gain or loss on investments. Presuming you have a net loss, your taxes will change only if you are on the cusp between brackets -- like 15% vs. 28%. This occurs at $43,050 taxable income if you are Married Filing Jointly. (Higher this year.)

But, surely tax bracket should not drive your decision to sell. If you've got a real bow-wow that is not going to recover, your possible savings on taxes are already dwarfed by your capital losses. So it becomes a question of whether you would get out now and lick your wounds, or later.
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