Talk of The Villages Florida - View Single Post - Harvesting LTCG(s) in 2021
Thread: Harvesting LTCG(s) in 2021
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Old 12-28-2021, 04:51 PM
retiredguy123 retiredguy123 is offline
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Originally Posted by manaboutown View Post
Because of a few resolvable nettlesome issues needing to be cleared up closing will be deferred into January, 2022 which gives me some breathing room in some ways. Hopefully the LTCG tax rates will not be increased. As a consequence I am rolling some deductible business expenses into next year. That is a first for me as I have historically tried to obtain every possible deduction I could by year end. lol

The stock market is still near its all time high so I am in no rush to charge in and buy anything just yet but I hate sitting on so much cash which pays me next to nothing while the highest rate of inflation in 39 years rages onward.
Just a comment. If the deductible business expenses will reduce your ordinary income, why wouldn't you use them in 2021? The long term capital gain income tax in 2022 should not be affected by a reduction in your ordinary income for 2022.