The easiest way to think about the benefits of WiseHarvesting is that it only works in the event you can deduct the harvested losses against income or other investment gains. Therefore, please consider what you would like to use WiseHarvesting to offset as you're starting out.
Additionally, there are considerations for wash sales, which can occur when an individual sells a security for a loss but shortly after repurchases the security at the reduced price, which results in the original loss being ineligible to report as a deductible loss. While WiseHarvesting accounts for and prevents wash sales across all of your Managed Portfolios accounts; we, unfortunately, are not able to see the securities in your outside accounts. Clients who have outside accounts with similar securities as those in your Managed Portfolios account(s) should be aware of any wash sale implications. Learn more about wash sales (skip to page 59 on Wash Sales).
Axos Invest, Inc., and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.