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I read yesterday that if you sold stock at a profit, and held it for more than one year, it is taxed as long-term capital gains, at a maximum tax rate of 20%.
If, on the other hand, you sold a stock at a loss, and held it for more than one year, it is considered a short-term capital loss, meaning that after offsetting any short-term capital gains, any remainder goes against ordinary income, rather than long-term capital gains. For someone in a 28% tax bracket, that would save them $8 in taxes per $100 of loss, assuming they had long-term capital gains which would be subject to the 20% maximum capital gains tax rate.

Is this really true? It seems too good to be true, especially considering the IRS's proclivity to go for the maximum tax bite in most scenarios....
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