Your basis is a key factor in determining your tax bill when you sell property. While it has always been important to diligently track your basis in property you own, a recent court case has shown yet another reason why this is so crucial.
Many people know what a wash sale is, but even savvy traders are often unaware of this less commonly known rule when it comes to using your capital losses to offset gains.
A lot of people may have large losses in the stock market from last year or early this year. Some of you may have since gained money in the market. You may want to consider selling these gains to offset … Continued