Pay attention to the details when selling investments

Posted by Kim Chen on October 27th, 2017

If you don’t pay attention to the details, the tax consequences of selling an investment may be different from what you expect. For example, if you bought the same security at different times and prices and want to sell high-tax-basis shares to reduce gain or increase a loss to offset other gains, be sure to identify which block of shares is being sold. At year end, keep in mind that the trade date, not the settlement date, of publicly traded securities determines the year you recognize the gain or loss. Questions about tax planning for investments? Contact us!