Typical capital gains harvesting advice is to harvest gains the last week of December and to harvest losses in the first week of January, writes Michael Kitces. There are caveats to this rule. "But ultimately, as long as we tend to sell what's up and buy what's down, you probably won't be triggering many loss rebalancing trades with this strategy," he writes. PFP/PFS members pay only $59 for Preparing Your Clients for the 2013 Tax Increases: Tools, Tips and Tactics (a more than 50% discount!), which includes a calculator to model whether harvesting gains makes sense for your clients. Visit aicpa.org/PFP/YearEnd for free resources from the PFP Division.
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