[USER]

I’d appreciate some advice on taxes regarding stocks (pretty new to stocks). I have a couple that have made a loss as well as a few that have decent gains.

I’m thinking of cashing in on some of my gains (approx $4k of gains).

If I sell these, and also sell some where I lost within the same year, do i not have to pay taxes if the loss cancels out the win?

Like I say… not very experieced, so I’d appreciate some good advice.

[Amy]

Yes, that is basically correct. Assuming all are in a taxable account. If in non taxable account then tax is not paid either way

[Shura]

The current stock market returns are indeed quite poor. The method you mentioned is correct.

I would suggest you consider other investments

[Maribeth]

I think this is only for capital gains/losses, so there are timing requirements like how long you have held these stocks, and there may be a yearly limit, like 3k.

Talk to a tax pro or the IRS if you want the real info though.

[Author]

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