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So last year was my husband and I first time seriously buying and selling short term and long term stocks. We didnt realize we would be taxed on them and had washes. It has been a learning lesson this Feb. Now we owe ~13k to the IRS for his gain of ~86k (short term + long term). We do not have any money set aside to pay these taxes.
Would it be better to sell stocks to pay the 13k then try to buy and sell to make back the loss? His proflio only went up 20k and its been confusing because of the "gain". We are on one income because of my health issues right now and very unprepared to pay the IRS.
Any advice if thats the correct direction to sell stocks to pay the irs? TIA.