Tax Loss Harvesting!

3. Here you will able to see your realized and unrealized gains and losses. Realized gains/losses refer to investments you’ve already sold, while unrealized gains/losses are from holdings you still own.

4. Review the amounts listed for Realized Gains, Realized Losses, and Unrealized Losses to understand where tax loss harvesting can help reduce your taxable income.

5. Gain vs. Loss Offset Calculation :Review this detailed breakdown to see how your net gain is reduced by offsetting with losses.

6. Understand How Tax Loss Harvesting Works

7. Regularly check your Tax Dashboard to monitor your progress. Otto will provide insights on opportunities for further tax savings.

1. How do I change my short-term capital gains tax rate?

A: You can adjust your short-term capital gains tax rate directly from the Tax Saving Dashboard. Look for the Tax Settings option to edit your rate as per your federal tax slab.

2. Can I track my tax savings over time?

A: Yes, the Tax Saving Dashboard provides real-time updates on your progress. It shows how much you have saved and how your losses are offsetting your gains, giving you an ongoing view of your tax-saving efforts.

3. Can I change the target amount or target date for my tax savings?

A: You can adjust your tax-saving strategy at any time, including changing the amount of tax savings you aim for or altering your timeline. Simply go to the Tax Saving Strategy section to make any necessary edits.

4. What happens if I miss a contribution or fall behind on my tax savings target?

A: While tax loss harvesting typically happens at the end of the year, it’s important to stay on top of your contributions. If you fall behind or miss any contributions, you can make adjustments in future months by reallocating assets or making larger contributions.