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Since I will be in the 15% marginal rate bracket with an estimated $17K left over before I reach the 25% bracket, all my projected LTCG will be taxed at 0%. Therefore, what tax advantage do I derive with taking the short term loss.

None. In fact, there's a tax cost to the loss since you will receive no tax benefit from it. (It reduces the amount of LTCG that you're not paying tax on anyway.) It will reduce the Federal AGI moving over to your state return, if that applies.

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