Year-end tax planning tip: Realize Losses on Stock
As the end of 2024 approaches it is a good time to put yourself in the best possible position for your 2024 tax returns. Did you know you can take losses on stock while substantially preserving your investment position? There are several ways this can be done. For example, you can sell the original holding, and then buy back the same securities at least 31 days later. Or, if you own a fund (such as an index fund), you can sell it, and buy a similar fund right away while still claiming the loss. This works great with index funds, because as long as you buy a fund of the same index, it contains all the same securities.
Click here to read more tips about tax strategies you can apply prior to December 31st!
Davis & Hodgdon CPAs works with individuals to capitalize on all applicable deductions. Our accountants have the experience required to make sure that nothing is missed! For more information or to set up an appointment please click here or email [email protected].
Recipients should not act on the information presented without seeking prior professional advice. Additional guidance may be obtained by contacting Davis & Hodgdon CPAs at 802-878-1963 (Williston) or 802-775-7132 (Rutland).
