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DTF St. Louis keeps messing with our expectations, and I have so many questions as we hurdle toward the season finale.

A new analysis from Citi Wealth reveals a decade-long tax break that has gone underutilized. Despite the simplicity and proven impact of this tax strategy, it remains one of the most underused ways to reduce annual capital gains taxes.Even if you are an existing investor, this oversight may be costing you more than you think. What’s more interesting is that this strategy doesn’t require a financial advisor, a special account, or complicated paperwork. All that matters is knowing exactly how this tax strategy works, when to use it, and how to avoid the mistakes that can disqualify your savings.Citi Wealth says tax-loss harvesting is the best strategyTax-loss harvesting is the practice of selling investments that have declined in value to generate realized capital losses. Those losses can then offset capital gains you have earned from selling other investments at a profit. The concept is straightforward, but the impact on your tax bill can be surprisingly large over a single calendar year. If you sold a stock for a $10,000 profit, you would normally owe taxes on that entire gain at tax time.Selling another holding at a $4,000 loss would reduce your taxable capital gain from $10,000 down to just $6,000. That single move could save you hundreds or even thousands of dollars, depending on your tax bracket.Most individual investors never take this step, even though it requires no special tools or professional credentials. Fewer than 30 percent of retail investors actively use tax-loss harvesting in any given year, according to some industry estimates.How the IRS lets you turn losing investments into real tax savingsYour capital losses can do more than just offset your capital gains from selling stocks, bonds, or mutual funds. The IRS allows you to deduct up to $3,000 in net capital losses against your ordinary income each year.If your total net capital losses exceed $3,000 in a single year, you can carry the remaining balance forward indefinitely. Those carried-forward losses can offset future capital gains or ordinary income in every subsequent tax year until death.Long-term capital gains are currently taxed at 0, 15, or 20 percent depending on your taxable income and filing status, the IRS confirms. Short-term capital gains from assets held one year or less are taxed at ordinary income rates as high as 37 percent.High earners may also owe an additional 3.8 percent net investment income tax on top of their regular capital gains rate. That means some investors could face a combined federal rate of 40.8 percent on short-term gains alone.

Turn losing investments into powerful tax savings by offsetting gains, reducing taxable income annually, and carrying forward excess losses for future benefits.PeopleImages/Shutterstock

Understanding how capital gains ordering rules workThe IRS requires you to offset short-term losses against short-term gains first, then long-term losses against long-term gains. Any excess losses from one category can then be applied against gains in the other category for further savings.This ordering system matters because short-term gains are taxed at much higher rates than long-term gains for most people. Using short-term losses to cancel out short-term gains produces the biggest dollar-for-dollar tax savings in your portfolio.More Personal Finance:Retirees following 4% rule are leaving thousands on the tableFidelity says a $500 policy could protect your entire net worthFidelity’s 4 Roth strategies could save your family a fortune in taxesYou should review your brokerage statements to identify which holdings qualify as short-term versus long-term before making decisions. Selling the wrong position at the wrong time could mean missing out on a much larger tax benefit.A tax professional or your brokerage platform can help you sort your unrealized gains and losses by holding period. Many online brokerages now offer built-in tools that flag harvesting opportunities inside your taxable account automatically.The wash-sale rule is the biggest mistake investors make with this strategyThe IRS does not let you sell an investment at a loss and immediately buy back the same security to claim the deduction. This restriction is called the wash-sale rule, and it disqualifies your loss if you violate it.You cannot purchase a “substantially identical” security within 30 days before or after selling the losing investment, the IRS states. Violating this rule disallows your loss deduction, but the loss rolls into the cost basis of your replacement security and reduces your taxable gain when you eventually sell. The one exception is repurchasing inside an IRA, where the loss is permanently forfeited because retirement accounts do not track cost basis for tax purposes the same way taxable accounts do. The IRS has not published a precise definition of what qualifies as “substantially identical” for all situations. Most tax professionals recommend replacing a sold position with a similar but clearly different fund or individual stock.For example, you could sell an S&P 500 index fund at a loss and purchase a total stock market index fund as a replacement. The two funds track different indexes, which generally keep you in compliance while maintaining your market exposure.You cannot use this strategy inside your retirement accountsTax-loss harvesting only works in taxable brokerage accounts where you owe capital gains taxes on your realized profits. Your 401(k), traditional IRA, Roth IRA, and other tax-advantaged accounts are completely excluded from this approach.Investments inside retirement accounts grow tax-deferred or tax-free, depending on the account type you are using. You do not report capital gains or losses within those accounts, so there is nothing for you to harvest.Related: Top unexpected retirement costs (and solutions)This distinction matters because many investors hold the majority of their portfolios exclusively in retirement accounts. If your only investments are in a 401(k) or an IRA, tax-loss harvesting will not apply to your current situation.You need to have investments in a regular taxable brokerage account to take full advantage of this strategy. Even a modest taxable account with a few index funds or individual stocks can create worthwhile harvesting opportunities each year.Citi’s example shows how quickly the tax savings can add upCiti’s analysis walks through a clear scenario that illustrates the math behind this strategy for everyday investors. Imagine you own two stocks in your taxable brokerage account, and one has gained $5,000 while the other has lost $3,000, Citi Wealth explains.If you sell only the winning stock, you owe taxes on the full $5,000 capital gain at your applicable rate. Selling the losing stock simultaneously reduces your taxable gain from $5,000 down to just $2,000 after the offset.That $3,000 reduction in taxable gains could save you between $450 and $714 in federal taxes alone, depending on your rate. Over five or 10 years of consistent harvesting, those savings compound into thousands of dollars kept in your pocket.Automated investment platforms have reported substantial results from systematic tax-loss harvesting across their client portfolios. One major robo-advisor estimated its clients saved over $1 billion in taxes cumulatively through automated loss harvesting over a decade.Smart investors time their harvesting throughout the yearMost people think of tax-loss harvesting as a December ritual, but waiting until year-end can actually cost you opportunities. Markets are volatile throughout the year, and losses that exist in March or July may disappear by December.The best approach is to review your taxable portfolio quarterly or even monthly for positions trading below your purchase price. Setting up alerts through your brokerage platform can help you spot harvesting candidates before the opportunity closes.”The key takeaway is that if your finances have even a little bit of complexity — capital gains, charitable goals, pretax retirement accounts — there are significant opportunities for tax savings,” said Jeremiah Barlow, chief solutions officer at Mercer Advisors.Volatility events, such as the market swings seen in early 2025, created massive short-term harvesting windows for proactive investors. One major investment platform reported harvesting $100 million in losses for clients in just three days during one volatility spike.Year-round monitoring does not mean you need to obsess over your portfolio or make trades every single week. It simply means checking in periodically so you can act quickly when a meaningful loss presents itself in your holdings.Practical steps to start using tax-loss harvesting in your own portfolio todayGetting started with tax-loss harvesting is straightforward if you follow a clear process.Key steps to implement this strategy correctlyReview your taxable brokerage account for any holdings currently trading below your original purchase price right now.Identify whether each losing position is a short-term or long-term holding to maximize the tax benefit of any sale.Sell the losing position and reinvest the proceeds into a similar but not substantially identical security within your portfolio.Wait at least 31 full days before repurchasing the original security to remain compliant with the IRS wash-sale rule.Track your realized losses carefully and report them on IRS Schedule D and Form 8949 when you file your tax return.Consult a qualified tax professional if you have a complex portfolio with multiple accounts or significant capital gains to manage.Starting this process does not require a financial advisor, but working with one can help you coordinate harvesting across multiple goals. The key is to make tax-loss harvesting a consistent part of your investment routine rather than an afterthought.Your brokerage platform likely offers free tools that identify unrealized losses and flag potential wash-sale conflicts before you trade. Platforms such as Fidelity, Schwab, and Vanguard all provide built-in tax lot analysis for their taxable account holders.Don’t let tax considerations override your overall investment strategy or push you into selling a position prematurely. The goal is to capture tax benefits when they naturally arise within your portfolio, not chase losses artificially.A disciplined approach to tax-loss harvesting can meaningfully reduce your tax burden every year without changing your long-term investment plan. The strategy is free, legal, and available to every investor with a taxable brokerage account today.When tax-loss harvesting might not deliver the savings you expectTax-loss harvesting is a deferral strategy, not a permanent tax elimination strategy, and you should understand this distinction clearly. When you lower the cost basis of your replacement security, you may owe more in capital gains taxes later.If you are in a low tax bracket now but expect a higher income in future years, harvesting losses today could backfire. The deferred gains you eventually realize could be taxed at a higher rate than the savings you captured today.Investors who hold mostly index funds in a strong bull market may struggle to find meaningful losses to harvest annually. The S&P 500 returned nearly 18 percent in 2025 alone, leaving fewer positions underwater for harvesting purposes.State taxes add another layer of complexity, as some states tax capital gains differently from the federal government. You should always factor in your state tax situation before executing a harvesting strategy in your taxable account.Related: IRS data show refunds jumped 11% as 37 million claim new tax breaks

Expanded chip agreements “put the spotlight back on Broadcom as a major winner” and could pave the way for earnings upside, analysts say.

Because of his disappointment with the NBA’s Slam Dunk Contest, Shaquille O’Neal has helped create his own professional league.

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealIf you’re looking to refresh your bedding for spring, we can’t recommend scalloped bedding enough. With soft curves and a vintage look, it adds a charming touch to any bedroom. Scalloped quilts, in particular, are quintessential to the ever-popular farmhouse aesthetic and are the perfect weight for spring weather. The Moonlight Bedding 3-Piece Quilt Set at Walmart is on sale for just $19, and it’s an affordable way to elevate your bedroom. It was originally $31 for a queen size, but with a 39% discount and $12 off, you can add this bestseller to your cart for under $20.Moonlight Bedding 3-Piece Quilt Set, $19 (was $31) at Walmart

Courtesy of Walmart

Shop at WalmartWhy do shoppers love it?Quilts have unmatched versatility compared to other types of bedding. They’re lightweight and perfect for spring and summer, but they can also be used as a cozy layer when it’s cold out. Then there’s the style aspect, with a wide variety of options to suit different preferences. Overall, a quilt has farmhouse vibes. Add that scalloped edge, like this Walmart find, and it plays into not just farmhouse design but also cottagecore and shabby chic, with an almost romantic feel.On top of its beautiful silhouette, the quilt (and the two matching shams that come with it) has a chevron pattern that gives the set more depth and dimension. Each piece is made of Oeko-Tex certified microfiber with ultrasonic stitching, making the set soft, durable, and breathable. The set is machine washable, making it easy to clean regularly in case the inevitable spill or stain occurs. Last but not least, the quilt set is available in a whopping 14 colorways. You can’t go wrong with neutrals, like white, gray, beige, or black. However, with a sale price of $19, you can switch it up and try new and bold colorways, including pink, Lilac Purple, and Ochre. Related: Macy’s is selling a $108 5-piece boho reversible quilt set for $38, and it comes with matching throw pillowsDetails to knowSizes: Twin, full/queen, and king.Colors: 14.Material: Microfiber.According to Walmart shoppers, this quilt set has a beautiful design with “gorgeous” colors and is the perfect weight. One reviewer said it’s “lightweight and comfortable,” saying it adds warmth to their bed without being too heavy. Other customers shared that the set is well-made and they “couldn’t ask for better quality.”Shop more dealsMoonlight Bedding 3-Piece Floral Scalloped Quilt Set, $20 (was $37) at WalmartImperial Rooms 3-Piece Scalloped Quilt Set, $29 (was $36) at WalmartAmeha 3-Piece Scalloped Quilt Set, $25 at WalmartWith beautiful scalloped edges, a lightweight feel, and a massive selection of colors to choose from, the Moonlight Bedding 3-Piece Quilt Set is proof that you can get elevated bedding on a budget. On sale for only $19, you’re going to want to grab this bestseller while you still can. 

The tactics that once drove startup momentum are losing power in saturated markets. What stands out now is not more pressure, but more coherence, restraint and trust.

Here’s how to create content that helps your customers understand your product, find the right features and get the outcome they signed up for.

On a Saturday night in Austin, standing inside a defunct power plant, Elon Musk delivered a message that cut straight to the heart of the AI chip shortage: His companies cannot get the chips they need, so they are going to build their own.Musk shared on March 21 that Tesla, SpaceX, and xAI are launching a joint venture called Terafab, a semiconductor fabrication facility to be built adjacent to Tesla’s Giga Texas campus in Austin. The project is estimated to cost between $20 billion and $25 billion, according to Electrek.”We either build the Terafab, or we don’t have the chips, and we need the chips, so we build the Terafab,” Musk said during a livestream broadcast on X (the former Twitter).What Terafab is designed to doThe facility aims to produce chips consuming 1 terawatt of compute power per year, making it by far the largest semiconductor manufacturing ambition ever planned. Musk outlined two types of chips the facility would produce. One is optimized for edge inference and designed to power Tesla’s Full Self-Driving software and its Optimus humanoid robots. The other is hardened for the space environment and intended for SpaceX’s planned network of orbital data centers, according to Data Center Dynamics.More Tesla:Elon Musk’s Terafab bet: what it means for Tesla investorsBank of America revamps Tesla stock priceUBS has a message for Tesla stock investorsIn terms of compute output, Musk projected 100 to 200 gigawatts per year on the terrestrial side, with the remainder of the 1 terawatt target going to space-based AI compute aboard solar-powered satellites. The facility targets 2-nanometer process technology, currently the leading edge of the semiconductor industry, and is designed to consolidate chip design, lithography, fabrication, memory production, advanced packaging, and testing under a single roof.Initial output is set at 100,000 wafer starts per month. The full-scale target is 1 million wafer starts per month, which Electrek noted would represent roughly 70% of TSMC’s entire current global output, from a facility operated by companies that have never fabricated a chip.Why Musk says he has no choice but to build semiconductor fabrication facilityMusk’s argument centers on scale. He said all the current fabrication facilities on Earth produce only about 2% of what Tesla and SpaceX will eventually need for autonomous vehicles, humanoid robots, AI training clusters, and space-based compute systems. He described the global chip industry as unable to expand quickly enough to meet demand, while expressing gratitude to existing partners, including TSMC, Samsung, and Micron, saying he would like them to expand as quickly as they can, according to Data Center Dynamics.Tesla’s AI5 chip is among the first products the pilot facility is designed to produce, with small-batch production anticipated in 2026 and volume production in 2027.Key Terafab specifications unveiled:Location: Adjacent to Giga Texas, eastern Travis County, AustinEstimated cost: $20 billion to $25 billion, according to ElectrekTarget output: 100 to 200 gigawatts per year of terrestrial chips; up to 1 terawatt including space chipsProcess node: 2-nanometer technologyInitial wafer starts: 100,000 per month, scaling to 1 million at full capacityFirst product: Tesla’s AI5 chip, small-batch 2026, volume production 2027

The Terafb facility aims to produce chips consuming 1 terawatt of compute power per year.Bocsi/Getty Images

The Terafabquestions Musk has not answeredThe Terafab plan drew significant skepticism from industry analysts. Musk has no background in semiconductor manufacturing, a field that is notoriously complex and capital-intensive. No timeline was given for when the full-scale facility would be operational.Analysts at Bernstein estimated that producing 1 terawatt of AI silicon per year would require processing the equivalent of more than 22 million GPU wafers annually, implying a total capital requirement of $4 trillion to $5 trillion, according to Tom’s Hardware. A single, modern leading-edge 2nm fab costs roughly $25 billion to $35 billion to build, and takes approximately 38 months to construct in the U.S., according to Electrek. For context, TSMC has spent decades and hundreds of billions of dollars building its 2nm capability.Tesla’s CFO acknowledged the full Terafab cost is not yet incorporated into Tesla’s 2026 capital expenditure plan, which already exceeds $20 billion, Electrek said. The announcement also comes as Tesla’s auto business faces pressure. The company’s sales declined for the second consecutive year in 2025, with declines in both Europe and China, Electrek added.Musk has a history of ambitious announcements with timelines that prove overly ambitious. Whether Terafab follows that pattern or represents a genuine turning point in how AI companies think about chip supply is something the industry will be watching closely for years to come.Related: Elon Musk issues apology for not building xAI right

Looking for help with today’s New York Times Wordle? Here are some expert hints, clues and commentary to help you solve today’s Wordle and sharpen your guessing game.

For the second time in three months, General Motors cut more than 1,000 jobs at Factory Zero, its all-EV assembly plant in Detroit-Hamtramck, Michigan, at least temporarily, as it “rightsizes” its electric vehicle production amid shifting consumer tastes.The company has initiated multiple layoffs, some temporary and some indefinite, affecting thousands of employees in 2026. This comes as U.S. EVs fall out of favor after the government let the $7,500 EV tax credit expire last September.GM expects a “benefit” of $1 billion to $1.5 billion due to “the actions [it ‘s] taken to rightsize [its] EV capacity,” the automaker said in its fourth-quarter earnings call.That benefit could go a long way toward plugging the hole left by the $1.6 billion in charges GM approved for a “planned strategic realignment of our EV capacity and manufacturing footprint” in the third quarter last year. GM shares were up modestly Monday, April 6.GM “rightsizes” EV production by cutting jobs General Motors temporarily laid off 1,300 workers at Factory Zero on March 16, with a plan to have them return to work on April 13, Wards Auto reported.“Factory ZERO will temporarily adjust production to align EV production with market demand. Impacted employees will be placed on a temporary layoff and may be eligible for sub-pay and benefits in accordance with the GM-UAW national contract,” a GM spokesperson told WardsAuto. The company took similar action in January, laying off 1,200 employees at the plant that manufactures the GMC Hummer electric truck and SUV, as well as the electric versions of the GMC.Related: BNP Paribas warns stakes ‘couldn’t be higher’ for Tesla stock investorsIn January, the company also revealed it was laying off more than 1,300 employees at its Lordstown, Ohio, assembly plant after sending a letter in October indicating that there would be a “mass layoff of GM hourly-represented employees.” While most layoffs were temporary, it indefinitely eliminated more than 450 jobs, reported NBC local affiliate 21WFMJ.GM says it took $6 billion in EV charges in the fourth quarter alone, including $1.8 billion in non-cash charges and $4.2 billion in supplier commercial settlements, impairments, and contract cancellation fees. That’s after GM said it recorded a non-cash impairment charge of $1.2 billion in the third quarter. The company took another $400 million in contract cancellations and commercial settlements fees.General Motors no longer operates the Lordstown, Ohio, assembly plant, having sold it in 2019. However, the company still maintains operations on the plant site, including Ultium Cells, which manufactures batteries for its electric vehicles.The company expected the changing political tides and the expiration of the EV tax credits to have a devastating effect on the industry. GM was “quick to respond to slowing EV demand by selling our share in the Ultium Cells Lansing plant and pivoting our assembly from EV to ICE production,” CEO Mary Barra said during the January call. GM confirmed the sale of its stake in the Ultium Cells electric vehicle battery cell plant in Lansing, Mich., in December 2024, according to Utility Dive, about four weeks after Donald Trump was reelected president.“Following recent U.S. Government policy changes, including the termination of certain consumer tax incentives for EV purchases and the reduction in the stringency of emissions regulations, we expect the adoption rate of EVs to slow,” GM said in an 8-K filing in October.The company’s board of directors approved third-quarter charges of $1.6 billion in GM North America for a “planned strategic realignment of our EV capacity and manufacturing footprint” that will match consumer demand.“However, with the evolving regulatory framework and the end of federal consumer incentives, it is now clear that near-term EV adoption will be lower than planned. That is why we are reassessing our EV capacity and manufacturing footprint…. By acting swiftly and decisively to address overcapacity, we expect to reduce EV losses in 2026 and beyond,” Barra said.

General Motors temporarily laid off 1,300 workers at Factory Zero on March 16, with a plan to have them return to work on April 13.Pugliano/Getty Images

General Motors plans to buy back $6 billion in shares in 2026; raises dividendDespite billions in EV-related charges, GM plans to reward shareholders generously in 2026. On Jan. 27, GM shared that its board of directors approved a new $6 billion share repurchase program, as well as a 3-cent-per-share increase in its quarterly stock dividend to 18 cents per share. The new rate is payable March 19 to shareholders of record on March 6.The company says it wants to reward shareholders because its overall strategy is working.“For several years now, GM’s strong brands and winning vehicles, as well as our technology-driven services and operating discipline, have delivered consistently strong cash generation,” said Barra.“This has allowed us to execute all phases of our capital allocation strategy, from investing in the business and our people to maintaining a strong balance sheet and returning capital to shareholders. We believe that formula is sustainable, which is why we’re increasing our dividend and planning future share repurchases.”Related: General Motors makes harsh decision affecting over 1,000 workers