Don’t Make THESE MISTAKES Selling Investments! | Capital Gains Offsetting

[@SafeguardWealthManagement]

We apologize, there is a typo on net losses slide. Married and Single Filers have a $3,000 per year offset. Married Filing Separately has a $1,500 offset.

[@zachbaxter9506]

AMAZING!!! Made something very complex into something everyone can understand. Thank You!

[@Sam-tg4ii]

I view a ton of similar channels. Yours is always the clearest and most informative on any topic. Your presentation slides and examples make it easy to follow along despite the complex topics. THANK YOU!

[@biocop]

I know that this video is two years old but I hope that you see the following question. You mentioned that you shouldn’t hold mutual funds in a taxable account, which I agree with; however, what about VTMFX (which is a tax-managed balanced fund)?

[@worldtravel4973]

By far one of the best video

[@keithmachado-pp6fv]

You don’t pay more tax on ordinary income at all levels. There is a quirk where you can pay more tax on LTCG or qualified dividends than you would on ordinary income, short term gains or non qualified dividends. If your income is $94,050 and you add $250 of LTCG you pay 15% tax vs 12% if that is ordinary income or short term cap gain.

[@alphamale2363]

Thanks. It occurred to me while watching that using my backlog of short term losses to cancel capital gains is stupid for me, since in my tax bracket I don't pay capital gains taxes anyway. Will use up my short term losses to cancel income before taking any capital gains.

[@mkotturu]

Fantastic video, wish i saw this before I did all the mistakes

[@samdoral4927]

Great Capital loss explanation from tax perspective

[@KevinAcrossAmerica]

Fantastic video! Thanks for making it.

[@keithmachado-pp6fv]

Another example where offsetting losses can mean a cap gain can increase tax paid on both ordinary income and dividends. Example, income after deductions of $97k of which $94k is wages and $3k is qualified dividends and you have a $3k tax loss. You will pay tax on $91k of ordinary income and zero tax on dividends. If you add $3k of cap gains that will be offset by the cap loss so zero cap gain tax. However now an additional $3k of ordinary income will be taxed at 12% Plus $3k of dividends are now taxed at 15% for a total of 27% caused by the cap gain

[@mr.j2776]

So glad I use tax software. I had a lot of "taxable events" this year - I'll have to check everything carefully! Another great video - I have learned a LOT from you guys! Thank you!

[@SafeguardWealthManagement]

Thank you very much Mr. J!

[@joycewright5386]

What tax software do you use?

[@mr.j2776]

@@joycewright5386 I'm not going to endorse a particular product - LOL. My point is - it is a lot easier then doing it on paper, as in years past.

[@joycewright5386]

@@mr.j2776 I wasn't looking for an endorsement. I just don't know what to buy.

[@andylewis5662]

Do I have to use those carryover losses in consecutive years to can I have them for a year where I expect lots of income?

[@patbattipaglia2636]

Very educational thank you

[@MargeWestra]

Must I not have quarterly dividends reinvested automatically because the small dividend re-purchase disqualifies my loss? Does a $100 dividend reinvested disqualify the entire loss sale or just disqualify $100 of the loss? What about ETFs? ETFs have dividends coming within the fund itself, so do these dividends within a fund disqualify a loss? Like QQQ has Apple within the fund and Apple has a small dividend. Can that small dividend disqualify a loss when selling QQQ, if you are re-investing the QQQ dividends? What if you don't re-invest QQQ, but just let dividends go to cash. I have searched high and low for answers to these dividend questions and how dividends trigger wash sales.

[@nir1210]

I have 49 k short term losses Cary forward from last year .. I have some short term gain which could off set loss - do u think I should sell my blue chip stocks to offset my 49k looses ?

[@andylewis5662]

Thank you for another good video.

[@SafeguardWealthManagement]

Thank you for being an awesome part of this community

[@nickatnight782]

At one point in the video, you say essentially that a good advisor can raise cost basis over time, can you explain what you mean by that? I know when you tax loss harvest you sometimes lower the base that you buy back into a fund or stock, when do you raise it preferentially?

[@adambram]

I had the same question.

[@bigk8294]

outstanding

[@tedosmond413]

very good!

[@jeremyduhon2841]

Let’s say you digitally input the form 1099s from each of your digital brokerages into Turbo Tax. Are all of the capital gains and losses automatically calculated into your final tax return or do you have to use the 1099 to manually fill out the form 8949 and schedule D to be able to deduct your capital losses?

[@ReasonableHuman1]

Thank you

[@sportyproductions2859]

do you have to sell out fully from a stock to get tax law harvesting or can you sell partial?

[@dontswin]

How would you handle a long term net loss and a short term net loss when the total of them both is only $1800 (this would be the total calculations of 2 separate brokerage accounts taken together)? If I can harvest up to $3000 per year in losses which would be better tax wise to sell at a loss(to add up to the $3000): short term losses or long term losses? I can't seem to-figure this? Please respond, thanks. Is that even clear?

[@weho_brian]

i have long term losses, but no long term gains. Can I offset long term losses with short term gains? I don't want to report any losses on my taxes. HmmI think I see what im looking for at 5:44

[@patrickd9576]

Video (2:51 mark) says that the income offset limit is $1,500 for single filers. Is that correct? Or is it $3,000 for single and married filers but $1,500 for married filing separate?

[@SafeguardWealthManagement]

You are correct. That was a typo, thank you for pointing that out. Will pin a comment

[@thuongnguyen1712]

My brother lost $-30,000 in stock loss. He also lost his job. The following year, he have no income to file this year. Does he have to file to take $3000 loss when he have no income. Does he loss out? Can he not file until a year he have income and carry the -$30,000

[@doomaster4]

The loss is not reimbursable it’s just reduces his taxable income. If he did not make anything then tax is close to 0 so the loss should be carried forward until it’s used up.

[@tannerjcarver]

Hello! Does this apply for stocks that are sold, or just part of the portfolio. For example, if I sell Apple stock at a 400% gain, but then leave in Airbnb stock in my portfolio at a 19% loss (don't sell) is there an offset or is it only if I sell a gain and sell a loss that the offset is then activated?

[@MiguelRPD]

Your airbnd is an unrealized loss since you didn't sell.

[@doomaster4]

Taxes apply when sold or divided comes in.

[@visittavee7773]

He explained too fast.

[@aishakhan-ls9zn]

Thank you