Comments on: Tax loss harvesting and tax gain harvesting step by step (updated for 2023) https://hackyourwealth.com/tax-loss-gain-harvesting Wealth building hacks for lawyers & engineers Tue, 27 Dec 2022 21:37:42 +0000 hourly 1 https://wordpress.org/?v=5.9.10 By: Pete Cruz https://hackyourwealth.com/tax-loss-gain-harvesting#comment-83672 Fri, 09 Dec 2022 19:42:26 +0000 https://hackyourwealth.com/?p=5066#comment-83672 I’m curious if wash sales would apply during a tax year of substantial losses. In a bad year if no tax harvesting is used as a tool, does the wash rule become obsolete because capital gains never exceed the years overall loss?

Basically the losses significantly outweighing any gains over a spectrum of investments.

I understand it to be imperative when having a positive year or utilizing the 3k allowed appropriately.
I haven’t found much information on the prior situations.

What’s your insight?

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