07-26-2015, 12:56 PM
The laws are different in different countries and where I am currently the capital losses can only be deducted from capital gains. So seeing as I don't generally sell my shares, I have no need for tax loss harvesting. However if I have some capital gains then I most certainly will try to negate any taxes by selling something for a loss. Obviously I will not lose money on purpose but if the losses are there (and most of us have SOMETHING that is on the negative most of the time) then why not realise a part of them to save on taxes? Apparently you have a 30 day rule in the states, here we don't have that so it's easier. There are other rules but if you play it right a couple of days is enough to realise some losses.
Every dollar you save on taxes is an extra dollar in your pocket.
Every dollar you save on taxes is an extra dollar in your pocket.