This year was my 2nd year at trying my hand at stocks. Fortunately I ended up making a little more than I lost after all was said and done. My question is however that over the course of the year I've sold some stock all of which I've held on to for over 12 months for a net gain of $4200.00, but I also still own stocks with losses of just under $4000.00. Should I sell the stocks with the loss to offset the Captial gains.
Should I sell the stocks with the loss to offset the Captial gains.Isn't it getting a little late to get a trade executed to sell your down stocks? The trades to realize the losses have to take place in 2001 in order to be able to offset gains realized in 2001.As far as whether or not you should, that depends on your investment strategy and how the stocks worth less than purchased fit in your plan. If you do sell at a loss and plan to repurchase, there has to be more than 30 days (either direction) before you repurchase them or you would fall inside the "wash rule": you cannot realize losses for stocks sold and repurchased within 30 days.
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