12-21-2019, 10:46 AM
Tax Loss Harvesting?
<!-- SC_OFF --><div class="md"><p>Do you have experience with tax loss harvesting? Should I do it? Should I not? Assume I have all losses in my portfolio, as I will continue to hodl my gains. </p> <p>For Reference:</p> <p>I initially purchased a good amount of various crypto in 2017. Let’s say $5k worth, for ease of numbers. </p> <p>Now let’s say through various losses, some gains, other losses, I now have a portfolio worth about $2000. </p> <p>Should I harvest these losses? Will it do me any good? I am not reporting any gains, as I do not have any. Is there any value to reporting these losses? Will this lower my federal/state tax implication, or does it simply reduce the amount owed on capital gains? </p> <p>Thank you in advance, hopefully this post helps others.</p> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>Do you have experience with tax loss harvesting? Should I do it? Should I not? Assume I have all losses in my portfolio, as I will continue to hodl my gains. </p> <p>For Reference:</p> <p>I initially purchased a good amount of various crypto in 2017. Let’s say $5k worth, for ease of numbers. </p> <p>Now let’s say through various losses, some gains, other losses, I now have a portfolio worth about $2000. </p> <p>Should I harvest these losses? Will it do me any good? I am not reporting any gains, as I do not have any. Is there any value to reporting these losses? Will this lower my federal/state tax implication, or does it simply reduce the amount owed on capital gains? </p> <p>Thank you in advance, hopefully this post helps others.</p> </div><!-- SC_ON --> Kind Regards R