In my case, hard to say since I have QLD, DDM and AAPL. The first two has 600% gains and the second one has 11,000% gains so if I sell, basically 100% of the amount is gained so is there a strategy to sell and still use it again to make money while having cash from the sale?

There was another update on December 10, 2017

Update for the LG X Charge M322V10n
summary 1. Phone usability and functionality has been further improved

No difference really from what I can tell…

@principalmember said in Steps to take in 2017 for the upcoming tax changes:

It’s common to see many out there advising paying your January payment early (next week) to realize the extra interest deduction in 2017.

People don’t know what the hell they are doing. Only the January payment will count towards the interest for 2017. The January payment represents interest for Dec and hence it is legit to do that. At the end of the day, you don’t control generating the “mortgage interest statement” - your bank does.

Exactly, the one who generates and reports the 1098 to the IRS is the one who determines that and the amount.

@adolfin - I thought Mortgage Interest was not part of the $10k SALT cap while Property Tax was.

Actually, how accurate is what CNBC is saying in this link:

https://www.cnbc.com/2017/12/19/5-deductions-taxpayers-will-miss-the-most-in-the-tax-bill.html

It seems like only property taxes would be a bigger concern and there are still ways around it as in my case, both me and my mom are JTWROS so if there was $12k in property taxes, all one has to do is shift the property taxes so whatever is left over is deducted by the other person.

As far as mortgages is concerned:
"Mortgage interest
Starting in 2018, homeowners can take a mortgage interest deduction on a loan of up to $750,000, down from the current law’s limit of $1 million.

“If you have a mortgage of $800,000, you can deduct [interest] on the first $750,000,” said Nicole M. Kaeding, an economist at the Tax Foundation.

Individuals who take out home equity loans will no longer be able to deduct that interest under the new bill."

so I was right about only Home Equity Line of Credit or anything with the word “Home Equity” in the name of the loan will just not be deductible. So mortgage interest deduction is still allowed, just you can deduct interest up to $750k worth of principle instead of $1 Million and using the same trick as above, one can shift the remaining part to the other person. And it doesn’t effect me because my loan as a new mortgage was $487,200 and now it’s $400,000.

Besides, just use the same trick the rich uses. Deduct everything 100% as a business being a LLC or as a sole proprietor without the limits.

So I was really asking for a example rather as using acquisition indebtedness is confusing. This is almost like reading legal documents as all it really says is the you can only deduct the first $750k of the loan amount so only people who have loans exceeding $750k would need to worry for margin interest since they can’t deduct the rest but if they can afford a $750k loan and meet the requirements for the Debt to Income ratio for it, that $250k that they can no longer deduct probably means nothing to them as the rich can just either have it paid from the business side and then deduct 100% of it.

Still a bit confused since I really am trying to find out what indebtedness means as it’s obvious one cannot deduct principle. So are they saying that there will no longer be form 1098’s?

@gwraigty - Thanks. What exactly does acquisition indebtedness mean? Also, is home equity the same as as a mortgage interest since I would have thought home equity would mean things like HELOC where the Home Equity is actually in the name of the product?

I’m in CA and haven’t followed the changes exactly. For property taxes and also mortgage deductions, are they limiting based on dollar amount or are they limiting it based on a % of income? What about Capital Gains taxes? Any changes to that since Trump got elected, my networth actually went up 75% from stock investments alone which gain over $1 Million from that time.