![]() I have been tax loss harvesting individual stocks and ETFs for long enough to have learned what the pitfalls can be with this strategy. Choosing a Tax Loss Partner is Trickier Than It Sounds But you won't have achieved a tax benefit. Your brokerage will modify the basis of the security involved in the wash sale to include that loss. If you violate those guidelines, you will create a Wash Sale, which will keep you from being able to use your loss to nullify taxation on your capital gain or $3,000 of income.
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