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What I would love is an open source implementation of the daily tax-loss harvesting strategies increasingly being offered. In addition to saving on fees, it wo
by ryporter 11y ago
What I would love is an open source implementation of the daily tax-loss harvesting strategies increasingly being offered. In addition to saving on fees, it would allow you to specify your own basket of stocks (and weightings among those stocks).
- Veratyr 11y agoI'm far from an expert but as I understand it, the maximum deduction you can get from tax loss harvesting is $3000 (per the IRS: https://www.irs.gov/uac/Ten-Facts-That-You-Should-Know-about-Capital-Gains-and-Losses https://www.irs.gov/uac/Ten-Facts-That-You-Should-Know-about...). Does tax-loss harvesting actually increase performance significantly?
- deegles 11y ago3,000$ per year for say 15 years is a good chunk of money saved, especially if you put those savings back in the market. Of course if your portfolio is huge you probably won't notice, but the average investor will definitely benefit.
- tamana 11y ago$45k income is $20k in tax savings, which is not a whole lot over 15years.
- patrickmcmanus 11y agoyou can claim at most a 3000 loss in a single year.. BUT * you can offset unlimited gains with as many losses as you have - so that's the real value. * you can carry forward losses greater than 3000 to future years. so its not use it or lose it
- ndonnellan 11y agoYes it's "offset up to 3000 against ordinary income per year, but offset unlimited capital gains", as far as I understand it. IANAFA.