u/Helfeather

Hi guys, wanted a knowledge check on [gains harvesting] against my [carried-forward loss] from prior years to make sure I'm doing this right. I'm hoping those are the right terms.

I have 5-digit capital loss carryover from prior years. They are from company RSU that vested then were sold at some point at a loss.

I am considering selling appreciated stock now, realize taxable capital gain, use carried-forward loss to offset that gain, then immediately repurchase the same stock with full proceeds.

That should mean I have effectively reset my cost basis upward while paying little or no current tax. Is that correct? TIA