Is this a well-known strategy? DRIP can get in the way of tax loss harvesting because of the requirement to not have bought the security at least 30 days before you are selling. Why not reinvest dividends preemptively in the tax loss pair for a security so that you’re free to sell. Always drip from larger to smaller position ensuring that worst case 50% of the funds are available for a given tlh-pair.
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