How does tax loss harvesting work for digital assets in a 401k plan?
Ernesto Garcés GinerFeb 19, 2023 · 2 years ago1 answers
Can you explain in detail how tax loss harvesting works for digital assets in a 401k plan? What are the benefits and considerations when implementing this strategy?
1 answers
- Funch NewtonJun 24, 2023 · 2 years agoTax loss harvesting for digital assets in a 401k plan is a strategy that can be implemented to minimize tax obligations. This involves strategically selling digital assets that have decreased in value to offset capital gains and reduce taxable income. By doing so, investors can potentially lower their overall tax liability and maximize their after-tax returns. However, it's important to note that tax loss harvesting should be done in accordance with IRS regulations and guidelines. It's also advisable to consult with a tax professional or financial advisor to ensure that you are implementing the strategy correctly and in line with your overall investment objectives.
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