Investors pulled a record $42 billion from stocks in the last week as they aim to cut their tax bill after grim 2022 losses, Bank of America says

Dec 23 2022 by Business Insider

 

(Photo by Xu Jinbai/VCG via Getty Images)

Investors pulled a record $41.9 billion from equities last week to engage in tax-loss harvesting, Bank of America said Friday.  Tax-loss harvesting is a strategy to lower investment taxes that involves selling securities at a loss to offset capital gains. BofA said investors in the past week also pulled out $10 billion from bonds.

Investors yanked a record amount of money from stocks last week as part of a financial strategy that lowers tax bills,...

Continue Reading Investors pulled a record $42 billion from stocks in the last week as they aim to cut their tax bill after grim 2022 losses, Bank of America says