10/14/2023 0 Comments Robinhood app taxesUnused losses carry forward for use against future gains and other income. The losses can also offset up to $3,000 of other income, such as wages, each year. Tax laws allow investors with taxable accounts to use the losses they incur when they sell a stock that’s dropped to offset the taxes on gains from the sales of stocks that have climbed. ![]() ![]() Leong is that despite the new platforms’ sophisticated technology they don’t make it easy to deploy a tax-wise technique known as “specific-lot identification.” Investors use it to lower their taxes, sometimes significantly, by choosing which shares to sell if they have lots bought at different prices and aren’t selling all of them.
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