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Capital Losses - Timing Is Everything
If you have already realized (or plan to realize) a capital gain in consider selling investments with accrued capital losses before the end of the calendar year to offset your capital gains. If you do engage in this strategy - popularly known as "tax loss selling" - make sure you don't run afoul of the special tax rules designed to stop the artificial creation of tax losses. For example, a capital loss will be disallowed if you buy a similar property 30 days before or after the sale, or if you, your spouse or a corporation you control still holds that similar property 30 days after the tax loss sale.
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