Remember, you can offset gains from your investment portfolio with your investment losses and costs, and you can deduct up to $3,000 per year in portfolio losses. While this may not seem like much, if you know you have $2,000 in investment gains for the year, you could look to assets you want to sell that have investment losses; you could then sell those assets with a corresponding $2,000 loss—thereby canceling out any increase in income from your investments and reducing your tax bill.