Locking in Capital Gains when in Lower Tax Bracket
I am a college student graduating this upcoming year. I have a decent amount currently invested in a taxable brokerage account.
For the 2019 year I would be in the 0% long term gains bracket and 12% marginal income bracket (which I believe is used for short term gains). Next year I anticipate moving into the 15% long term gains bracket.
Since the market is up, before the year is out I was thinking of trying to realize these gains (I have a mixture of both short term and long term gains currently) by selling and just rebuying the same positions. Since both tax rates are lower than long term gains will be next year I was thinking of doing this for both.
Is this a smart idea or am I missing something? Are there any other considerations I should be aware of?
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