I have long term capital gains from stock sale, used to purchase my home. These are taxed at 15%.
I currently own stocks with capital losses (both short and long term). I intend to sell these stocks at a loss because they are bad investments.
My question: My income from employment places me in the 30+% tax bracket. Is it wiser to sell my bad investments this tax year and offset my long term capital gains, or to wait until next year to offset my income? It seems wiser to wait, but I read that I can only deduct $3k per year from my income.