The taxable income formula subtracts the greater of the standard or itemized deductions from your adjusted gross income.
Here's what investors need to know about planning around the 0% capital gains bracket, according to financial experts.
Weigh 'tax gain harvesting'If you're sitting on profitable investments, the 0% capital gains bracket could offer a chance for "tax gain harvesting," said certified financial planner Ashton Lawrence, a director at Mariner Wealth Advisors in Greenville, South Carolina.
Here's how it works: Investors in the 0% capital gains bracket can strategically sell profitable brokerage account assets without triggering capital gains taxes.
Opt for tax-free rebalancingYou can also leverage the 0% capital gains bracket to rebalance brokerage account assets without triggering a tax bill, experts say.
Persons:
dowell, Ashton Lawrence, Lawrence, George Gagliardi
Organizations:
Mariner Wealth Advisors, Coromandel Wealth Management
Locations:
Greenville , South Carolina, Lexington , Massachusetts