WiseHarvesting: What considerations are there for turning on WiseHarvesting?

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 Axos Invest 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 Axos Invest account(s) should be aware of any wash sale implications. Learn more about wash sales (skip to page 59 on Wash Sales).

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