From the Electric City. Now the Garden State. Former NCAA Wrestler & Coach. CFA and CFP®. Enjoy a good workout, wrestling, golf, pickleball, and jiujitsu.
@andy_josuweit I meant to say “…crypto losses” instead of crypto gains. In short, it is a smart move to realize these losses because they’ll offset your short term gains (which would otherwise be taxed at a very high rate — as high as 37%).
@andy_josuweit …crypto gains, then it is likely very high (as high as 37%) because you’ll be offsetting short term income (produced in your portfolio). Also, your dividends are likely “qualified dividends” taxed at the preferential rate (15/20%).
@andy_josuweit That’s right. The short term positions will be taxed as high as 37% (the top federal rate), but you likely have short term portfolio gains which will be offset with the short term losses. So, if you’re looking for the “tax value” of selling these short term…
I am deeply saddened by the passing of Chase Meola, who was senselessly murdered in an act of gun violence near Ohio State University. A native of Mahwah, Chase loved his hometown, and it loved him. We send our condolences to his family.
Wrote a story on Penn State wrestling (@pennstateWREST) for @usatodaysports.
The Nittany Lions are going for their eighth #NCAAWrestling title in nine years this week. Here’s a look into their decade of dominance: https://t.co/VkWe8aCKEE