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Here is a tip that is going to save somebody a couple hundred bucks on their taxes next year.
If you need to sell stocks to raise cash (e.g. for a down payment or a vacation or whatever), sell the position lots with 𝘭𝘰𝘴𝘴𝘦𝘴 𝘧𝘪𝘳𝘴𝘵.
Excess capital losses can be used to offset up to $3k of ordinary income on your taxes.
So if you're in a 24% tax bracket, that's $720 off your taxes.
#investing #investingtips #taxes #FinancialEducation
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