17 Midyear Tax Moves You Still Can Make In '17
Winds of tax reform are blowing in Washington, but nothing has happened yet. In the meantime, take advantage of tax breaks currently on the books, including these 17 items:
1. Capital losses: If you realized capital gains from securities sales earlier this year, you can start harvesting losses. Your losses will go to offset capital gains you realize in 2017 plus up to $3,000 of highly taxed ordinary income.
2. Capital gains: Long-term capital gains that aren't offset by losses will be taxed at a maximum rate of only 15% (20% if you're in the top ordinary income tax bracket). But some upper-income investors also may owe a 3.8% tax on investment income.
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