This year the market has been volatile and my portfolio has hardly gained. I was forced to sell some stock earlier to buy into another investment opportunity and chose to sell two stocks that had substantial losses. Right now my capital losses are in the $3,000 - $5,000 range (I haven't figured it out exactly yet).
I've never had net capital losses in a year before. How do I best apply them to my taxes for 2016? Does it make sense to sell stocks that are currently positive and repurchase them immediately, so that the cost basis is brought up to current value and any taxes on that gain are offset from my losses?
Assume that these stocks have all been held more than one year. Also assume that I have no income and thus no personal income tax to offset with these losses. I also have no depreciation of property.