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Dabbs, Hickman, Hill & Cannon, LLP
319 South Main Street, PO Box 727
Statesboro, GA 30459
Phone: 912-764-6951
325 Tattnall Street
Savannah, GA 31401
Phone: 912-233-9004
How you manage the sale of your investments impacts your overall tax picture. And to get the most out of the current tax law, you’ll need to understand capital gains and losses.
And if your losses exceed your gains you can offset up to $3,000 against other types of income (e.g. W-2 wages) each year and carry forward the rest to future years.
But beware of the wash sale rules. If you sell a security and buy it, or a substantially similar one, within 30 days, any loss you incurred isn't tax-deductible.
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