Last week I talked about gifting appreciated stock to a child to save some tax. Another alternative is to sell any appreciated stock now and pay the gain at a maximum of 15%. You would only want to sell “winners.” I know many of you say, “What winners, the market has dropped so low!”

The market has dropped but many of you are still holding appreciated stock. Consider selling it now to lock in the gain and then you can buy it back at the higher price and watch it grow all over again. If you sell a stock at a loss, you must wait 31 days to buy it back. If you sell at a gain, you can buy it back immediately.

 
This information is provided in an effort to help you gather and organize the information necessary to file your individual or small business income tax return. While these financial tools are not a substitute for financial advice from a qualified professional, they can be used as a starting point in your decision making process.