Turn your investment losses into valuable tax deductions
Realized gains to offset
✓ 0% states have no state income tax - this is accurate!
Turn losses into tax savings. Tax loss harvesting involves selling investments at a loss to offset capital gains and reduce your tax bill. Losses first offset gains of the same type (short-term with short-term, long-term with long-term). Excess losses can offset up to $3,000 of ordinary income per year, with remaining losses carried forward indefinitely.
⚠️ Wash Sale Rule:
You cannot claim a loss if you buy the same or substantially identical security within 30 days before or after the sale. This 61-day window (30 days before + sale day + 30 days after) is strictly enforced by the IRS.