Go Curry Cracker Forum

Go Curry Cracker => Taxes => Topic started by: desairicky on February 26, 2021, 01:13:44 PM

Title: Capital gain harvesting during accumulation
Post by: desairicky on February 26, 2021, 01:13:44 PM
Hello!

I am still almost a decade from early retirement and have started maxing 401ks and Traditional IRAs for tax optimization this year. The remaineder of our savings is going into our taxable account. Is it wise to harvest capital gains to increase our basis in the taxable account during the accumulation phase? It seems like the answer is yes, but I wanted to make sure I am not missing something.

Thank you!

-Ricky
Title: Re: Capital gain harvesting during accumulation
Post by: gocurrycracker on February 26, 2021, 07:05:00 PM
If you can do it with zero taxes, yes
Title: Re: Capital gain harvesting during accumulation
Post by: desairicky on February 27, 2021, 02:14:08 PM
Great! Thank you Jeremy. I am in the military so a big chunk of my income is non-taxable. After standard deductions and traditional contributions I am very close to zero federal tax. Once my taxable investments hit that one year requirement I will be sure to harvest the gains! Hope Taiwan is treating you in your family well.

-Ricky