Last day of TLH for Year 2018

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artking99
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Joined: Thu Apr 07, 2016 3:57 pm

Last day of TLH for Year 2018

Post by artking99 »

Is Dec. 31 the last day of TLH for year 2018? If the market goes down further on Dec. 31, should I harvest more loss before market closes on that day? I have a lot Cap gain distribution this year from active funds.
Last edited by artking99 on Wed Dec 26, 2018 10:53 am, edited 1 time in total.
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Stinky
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Re: Last day of TLH for Year 2018

Post by Stinky »

artking99 wrote: Wed Dec 26, 2018 10:53 am Is Dec. 31 the last day of TLH for year 2018? If the market goes down further on Dec. 31, should I harvest more loss for this year? I have a lot Cap gain distribution this year from active funds.
Short answers. Yes and yes.
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Topic Author
artking99
Posts: 21
Joined: Thu Apr 07, 2016 3:57 pm

Re: Last day of TLH for Year 2018

Post by artking99 »

Stinky wrote: Wed Dec 26, 2018 10:53 am
artking99 wrote: Wed Dec 26, 2018 10:53 am Is Dec. 31 the last day of TLH for year 2018? If the market goes down further on Dec. 31, should I harvest more loss for this year? I have a lot Cap gain distribution this year from active funds.
Short answers. Yes and yes.
So it is the Trade Date that matters, not the settlement date. Thanks.
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PhysicianOnFIRE
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Re: Last day of TLH for Year 2018

Post by PhysicianOnFIRE »

artking99 wrote: Wed Dec 26, 2018 10:55 am
Stinky wrote: Wed Dec 26, 2018 10:53 am
artking99 wrote: Wed Dec 26, 2018 10:53 am Is Dec. 31 the last day of TLH for year 2018? If the market goes down further on Dec. 31, should I harvest more loss for this year? I have a lot Cap gain distribution this year from active funds.
Short answers. Yes and yes.
So it is the Trade Date that matters, not the settlement date. Thanks.
A benefit of using Vanguard mutual funds to exchange from one fund to another is that there is no settlement date. As long as the trade is entered prior to the closing bell, the transaction will go through on that day.

Happy Harvesting!

:beer
-PoF
OldSport
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Re: Last day of TLH for Year 2018

Post by OldSport »

What if you have individual stocks in a Fidelity brokerage account to TLH? Can I execute the trade during business hours on Dec 31 to TLH for 2018?
fire4fun
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Joined: Tue Dec 25, 2018 2:29 am

Re: Last day of TLH for Year 2018

Post by fire4fun »

How does one know how much to sell for the purpose of TLH? If you had say $50K taxable and it lost 10%, do you sell all of it? Half?
software
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Joined: Tue Apr 18, 2017 2:02 pm

Re: Last day of TLH for Year 2018

Post by software »

fire4fun wrote: Wed Dec 26, 2018 2:29 pm How does one know how much to sell for the purpose of TLH? If you had say $50K taxable and it lost 10%, do you sell all of it? Half?
Typically you would sell all lots with losses using SpecId method.

You would also want to sell any lots aquired within 30 days, whether they have gains or losses, to prevent wash sales.
focusedonwhatmatters
Posts: 159
Joined: Wed Nov 29, 2017 11:49 am

Re: Last day of TLH for Year 2018

Post by focusedonwhatmatters »

PhysicianOnFIRE wrote: Wed Dec 26, 2018 2:00 pm
artking99 wrote: Wed Dec 26, 2018 10:55 am
Stinky wrote: Wed Dec 26, 2018 10:53 am
artking99 wrote: Wed Dec 26, 2018 10:53 am Is Dec. 31 the last day of TLH for year 2018? If the market goes down further on Dec. 31, should I harvest more loss for this year? I have a lot Cap gain distribution this year from active funds.
Short answers. Yes and yes.
So it is the Trade Date that matters, not the settlement date. Thanks.
A benefit of using Vanguard mutual funds to exchange from one fund to another is that there is no settlement date. As long as the trade is entered prior to the closing bell, the transaction will go through on that day.

Happy Harvesting!

:beer
-PoF
Does this apply to Vanguard ETFs as well? Specifically, can I sell VTI on December 31 before the market close as a TLH for 2018?
livesoft
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Re: Last day of TLH for Year 2018

Post by livesoft »

Any trade executed on 12/31/2018 will count for 2018.

It ain't the settlement date at all.

And it doesn't matter whether one trades a mutual fund or an ETF and it doesn't matter whether it is Fidelity or Vanguard or any other competent broker, so I don't know about Robinhood and other toy brokers.
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NoHeat
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Re: Last day of TLH for Year 2018

Post by NoHeat »

livesoft wrote: Sun Dec 30, 2018 5:52 pm Any trade executed on 12/31/2018 will count for 2018.

It ain't the settlement date at all.
Not true for “any” trade.

If the trade is the covering, at a loss, of a short position for a borrowed security, then it IS the settlement date that counts, for tax purposes, for closing the position at a loss.

https://www.gtlaw.com/en/insights/2015/ ... -date-rule

A short covered at a loss on Dec 31 2018 is reported on the 2019 tax return.
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