So here is my scenario, I have $10,000 short term and $12,000 long term capital losses carried from a few years ago. Right now I have $30,000 in short term gains that I have not sold yet. I am thinking about selling at least some of it now, but I am also thinking about holding some of it for a long term gain. How can I minimize my tax liability?
Also consider my current $30,000 gain is not locked in so waiting a year could cost me those gains. Finally if I were to hold it and sold it all at long term gains, could I apply it towards previous years short term losses in addition to long term losses?