I made some pretty good money this year, against a backdrop of stocks I held on to for too long, which have been in deep negative territory for a while. If I don't do anything, I'll lose a significant part of my earnings to Federal taxes, and the current value of my stash will diminish even though I actually made money.
However, if I sell some of my loser stocks, I can negate my gains and owe no taxes on them, but the current value of my holdings will stay the same as it is now. The only thing I lose is the potential value of stocks. If my some miracle $CBIS goes from $0.049 to $4.90, I'll be very sad. But what are the chances of that happening? I bought it at $0.18, so it would have to increase by 260% just to break even.
I can sell 10,000 shares now and have $490, while taking $1,310 off of my earnings this year, saving me around $230 in Federal taxes.
So now I need to do some due diligence and find out which of my stocks have the least potential and sell them off at a loss before the end of the year.
Here's my pantheon of losers:
- CBIS
- HEMP
- NVAX
- ONVO
- VJET
- TVIAQ
Submitted December 20, 2017 at 02:58PM by mutatron http://ift.tt/2BSwfvY
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