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By Staff Reporters
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Investors pulled a record $41.9 billion from equities last week to engage in tax-loss harvesting according to Bank of America.
MORE: https://medicalexecutivepost.com/2022/11/25/more-tax-loss-harvesting/
Tax-loss harvesting is a strategy to lower investment taxes that involves selling securities at a loss to offset capital gains. BofA said investors in the past week also pulled out $10 billion from bonds.
CITE: https://www.r2library.com/Resource/Title/082610254
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Amazon.com Inc. has erased more shareholder wealth than any other publicly traded company in 2022. In total, investors in Amazon have lost $804.6 billion this year. The stock is down 48% in 2022.
Apple Inc. and Microsoft Corp. have also suffered larger market-cap declines than Tesla, by virtue of their sheer size.
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Filed under: "Ask-an-Advisor", Accounting, Experts Invited, Investing, Taxation | Tagged: DAILY UPDATE: Christmas Tax Loss Harvesting, lost shareholder wealth, Mike Kitces, tax loss, tax loss harvesting | Leave a comment »
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