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Investing Specialists

5 Ways to Shrink Your Tax Footprint

Consider careful asset location, selling losers (and winners), and using the specific-share identification method.


Note: This article is part of Morningstar's February 2014 Tax Relief Week special report.

As dedicated savers know, there are times when investing through a taxable account--rather than an IRA, 401(k), or 529 college-savings plan--is inevitable. Perhaps you have the high-class problem of having maxed out all of your available tax-sheltered vehicles: If you want to put additional money away, stashing it in a taxable brokerage account or mutual fund is your only option. 

Christine Benz does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.