Hey everyone I’m not too sure the title describes this very well. I currently have about $17000 in a brokerage and if I sold everything right now, I wouldn’t have much capital gains tax, if any. I also have around $10000 in losses from last year and can take the maximum allowed claim for losses on my taxes for the next few years unless gains wipe that out. I make about $5000 every two weeks before taxes. Would it be a good strategy to do the following: Up my contribution to 100% of my pay check or whatever the max is Sell my stocks in my brokerage effectively using that for bills and living expenses in lieu of my pay check This would do two things: Shift my stocks/investments to tax free growth Reduce my taxable income Am I wrong here? Any other pros/cons? Is this possible/legal? Any rules I should be aware of such as wash sales?
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