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Posted by Billy on March 10, 2008, 5:46 pm
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>
>> I am in 15% Tax Bracket. Does this scenario work for 2008.
>>
>> Sell al my stock, re buy it when legally OK, since tax is zero.
>
> There's no wash sale rule for gains. You don't have to wait to
> repurchase the stock.
>
>> I will then have a higher cost basis if the law ever reverts back to
>> taxing cap gains again thus my gain would be less.
>
> Keep in mind that the 0% rate only applies to gains falling into
> the 5/15% bracket. For example, if all your other income puts
> you $4,000 short of the end of the 15% bracket, and you have
> $30,000 in long-term gains, only $4,000 of the gains will be
> taxed at 0%, with the remaining $26,000 being taxed at 15%.
>
> --
> Rich Carreiro rlc-news@rlcarr.com
>
>Tks Rich, that makes sense, appreciate the help.
--
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