Tax-loss harvesting is selling securities at a loss in order to offset the amount of capital gains tax due when you file your taxes. Typically, investors will then use the proceeds from the sale to purchase a similar asset or security in an attempt to maintain the overall balance and diversification of their portfolio. However, investors invoking this method must be cautious to not invoke the IRS’ Wash-Sale Rule. Please see more about the IRS Wash Sale Rule below.
Please note, SoFi currently uses the MinTax method for which tax lots to sell, please see below for more information on how that works. We do not offer the ability to view or select specific tax lots via the website or mobile app at this time.
SoFi Auto Invest Accounts do not offer tax-loss harvesting as part of their auto-rebalancing calculations.
How does SoFi sell tax lots? - HC Article Link
What is the Wash-Sale Rule? - HC Article Link