Tax Question – can I offset gains by buying opposite ETFs (long and short) and selling the loser at the end of the year?

Simple. Let's say I have 100$ in realized short term gains. Can I buy 1000$ worth of spy long etf and 1000$ worth of spy short and sell whichever loses money at the end of the year to reduce my 100$ gain / defer it until I sell my new 1000$ position?

Seems too good to be true since it's essentially a hedged play to defer gains

Submitted August 12, 2017 at 04:05PM by StylishEuro
via http://ift.tt/2wEFoTB

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