Hello from Veritas –
On behalf of our asset management team, we recently executed some tax loss harvesting strategies on April 21st.
These strategies will be an ongoing initiative through our partnership with Stratos Investment management.
The reasons to harvest portfolio losses?
- Losses can first offset any capital gains from the current year.
- Excess losses beyond the gains can then be used to reduce up to $3,000 of the current year’s ordinary income.
- Losses more than the $3,000 can be “carried” forward” to offset future capital gains and ordinary income in the same manner.
Proceeds from these strategies are reinvested back into similar securities within the investment strategy so that we can maintain our desired asset class exposures.
Feel free to reach out with any questions.
