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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29962
Experience:  Taxes, Immigration, Labor Relations
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My financial advisor says sell stock a and buy stock . i

Customer Question

my financial advisor says sell stock a and buy stock b. i have some gain in stock a. is there a formula for determining how much gain i must expect to get to offset the income tax i will have to pay for the gain in stock a?
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.
there is no simple formula - But I will help you with estimate.
Expert:  Lev replied 1 year ago.
To calculate the gain - we need to know the expected sale price and your basis (mainly purchase price)and how long you owned that stock - more or less than a year.To determine your expected tax liability - we need to know your other taxable income, filing status and deductions.I will be helping you with estimations.Let me know if you need any help.