I recently sold a business and will receive a pay-out spread over a couple of years. Each year I will receive a predefined sum, which will be reported as capital gains.
Now, with the stock market down, should I sell* stocks to generate capital losses to lower my overall tax bill? In other words, can I offset my capital gains from a business sale with losses from stocks?
(*) The strategy would be to sell individual stocks and immediately replace with others, to stay in the market. I have no intention on timing the market.