Word: incurring
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Dates: during 2000-2009
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...Sell thoughtfully. Hang on to stocks with the most promise, natch. But, fundamentals aside, consider selling stocks held longer than 12 months first. Those incur long-term capital-gains tax, not the more punishing short-term rate. That isn't always best, though. The higher short-term rate may translate into a lower tax bill if gains are modest and the cost basis is high. Consider two stocks: one goes from $10 to $110 in 12 months; the other, from $90 to $110 in six months. You cut your tech exposure by $110 selling either. But the long-term winner...
...must pay debts that you incur while others...