Combining stock donations with tax loss harvesting is an excellent way to reduce or even eliminate your capital gains tax. For long-term investors with appreciating portfolios, this is a high priority. Optimize your charitable donations to keep a balanced portfolio.
Read MoreIf you are bullish on the market, you may want to maintain the allocation in your portfolio. This doesn’t have to stop you from donating some of your appreciated shares to offset your capital gains. In this article, we’ll discuss making a stock donation and making an open market purchase. On the same day you donate your shares, you can use the cash you would otherwise have donated to buy the same stock in your brokerage account.
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