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By Rachel Haig | 12-17-2009 11:50 AM

Tips for Tax-Loss Selling

Morningstar's Christine Benz discusses when to take a loss for the tax benefit and outlines tax changes on tap for 2011.

Rachel Haig: I'm Rachel Haig for This year, unlike last year, some investors are actually seeing some gains in their portfolios. Here with me to discuss portfolio strategies for handling these as taxes come up is Morningstar's director of personal finance, Christine Benz. Thanks for joining me again, Christine.

Christine Benz: Hi Rachel. Nice to be here.

Haig: So what are things that people should keep in mind, with either gains or losses, as they plan for taxes?

Benz: This has been a good year for most investors. It's really a rare investment that doesn't have a gain for the year to date. The good news is that if investors are inclined to sell something in which they have a gain, they probably have a loss elsewhere in their portfolio that they can use to offset that gain. So, before you do any selling, I would comb through your portfolio to see if you can take any losses.

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