Posts  / #POST-229147
REDDIT

NY and tax gain harvesting to reset cost basis

I'm thinking about how to be strategic with long term capital gains. Because of the zero threshold and my income will have some wiggle room I want to realize the gain, then buy back the stock to reset the basis.

This keeps the IRS out of my pocket, but not NYS (I should just move to Texas)

Has anyone in NY done this? If so what's the tax situation on the ltcg?