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Nobody likes investment losses, but some losses have a silver lining.
Markets have been awash in red ink this year, so it’s a good time to revisit the tax code’s rules on losses for individual investors. They’re notably generous for assets held in taxable accounts, as opposed to those held in tax-sheltered accounts such as IRAs or 401(k) plans.
“Tax losses are a potential asset that can lessen the sting of market downturns,” says Joel Dickson, a tax specialist who is global head of advice methodology for Vanguard Group.
The reason: Investors can sell their losers and book a capital loss, typically for the difference between a holding’s purchase price and its sale price. Then they can use these losses to offset taxable capital gains from selling winners, either right away or in the future.
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