gain

Consider tax loss harvesting to reduce your tax liability
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Consider tax loss harvesting to reduce your tax liability

Individuals

Consider tax loss harvesting to reduce your tax liability

First, what is this harvesting? – no, you do not need to live in a farm. Tax loss harvesting is selling investment with a loss (take that capital loss) and apply against the capital gain of profitable investments. Example 1: Sold share of X Inc with a $5k loss (purchased at $7k and sold at

By Victor Garrido, CPA, EA|2025-01-07T08:21:42+00:00December 14th, 2024|Categories: Individuals|Tags: capital, gain, harvesting, irs, loss, rule, share, tax, wash|

Selling your home? Selling your rental property?
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Selling your home? Selling your rental property?

Individuals

Selling your home? Selling your rental property?

If you are selling or thinking of selling your home or rental property, the IRS has special resources to keep into consideration. Selling your home You can claim a capital gain exclusion of up to $250,000 (single) or $500,000 (married filing jointly), if you owned the home and lived in the main home for the

By Victor Garrido, CPA, EA|2022-06-03T16:20:40+00:00June 3rd, 2022|Categories: Individuals|Tags: exclusion, gain, home, property, rental, selling|

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