2018 TAX YEAR COUNTDOWN

This is a reminder that there are a limited number of days to take advantage of last minute tax adjustments with which to prepare yourself for the best 2018 tax outcome.  Stay in touch over the next few days as we post tips that just might be of value to you, and here is the first:   

Long-term investors

Capital gain/loss selling

Investors with realized capital gains this year or in any of the preceding three years (back to 2015)

can apply capital losses realized this year against those gains. To realize capital gains and losses in

2018, trades must be executed by Thursday, December 27 to ensure settlement by Monday,

December 31, the last business day of 2018.

Remember, the year a disposition occurs for tax purposes is based on the settlement date and not

the trade date. Additionally, in September 2017, the mutual fund industry’s settlement standards

changed from trade date plus three business days (T+3) to trade date plus two business days (T+2).

Special attention should be given to trades executed within the calendar year but settled in the

following calendar year. These trades may be recorded on the relevant tax slips (e.g., T5008)

and statements, but are technically reportable in the year of settlement.