Tax Corner

Navigating the Wash Sale Rules

Question: With the recent stock market decline, does it make sense for me to sell stocks that have decreased in value to create losses for tax purposes and then buy back the same positions?

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Tax Planning with Appreciated Assets

Question: I own a stock portfolio which has appreciated significantly in value over the years. Can I transfer the portfolio to my aged mother and have her transfer it back to me upon her death so I can benefit from a step-up in basis when she dies?

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Non-interest bearing parent/child loans

Question: I loaned a sizeable sum to my daughter to enable her to purchase a residence.  While I expect to be repaid, there is no specific time for repayment and no interest will be paid on the loan.  What are the tax consequences of this arrangement?

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