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If I have a worthless investment that I wish to write off. Do I need to sell a corresponding amount of securities to make this tax neutral for 2021?
I invested in a LLC with intent to turn it into a functioning business but it never developed. I know I can write off the losses but it seems that I have to have a capital gain to offset the losses vs regular income. I can sell stocks to offset the losses for capital gains but need to know if this will work prior to the actual selling of the stocks.
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‎August 18, 2021
9:42 AM