Q: What is the Tax Loss Harvester (TLH) tool?
A: The SMArtX Tax Loss Harvester helps advisors identify opportunities to realize short- and long-term capital losses that can be used to offset capital gains or ordinary income, while monitoring for wash sales across related accounts.
Q: Which accounts are included in wash sale monitoring?
A: Wash sale monitoring applies across all accounts within the same Account Group (tax household). When a security is sold at a loss in one account, exclusions are applied across the entire Account Group.
Q: Can an account belong to more than one Account Group?
A: No. An account can only be assigned to one Account Group at a time.