NO.PZ2015112003000018
问题如下：
Jose DiCenzo has some securities worth €50,000 that have a cost basis of €75,000. If he sells the securities in the current tax year and replaces them with securities having the same returns. He will then sell the new securities in the next tax year. Assuming capital gains are taxed at 30 percent, what is the total tax savings assuming DiCenzo does not reinvest the tax savings?
选项：
A.€0.
B.€7,500.
C.€15,000.
解释：
A is correct.
Assuming DiCenzo does not reinvest the tax savings, tax loss harvesting does not reduce the total tax paid over time. It only defers taxes because recognizing the loss resets the cost basis to a lower figure which will ultimately increase the gain realized late by the same amount. Tax loss harvest can augment return by postponing tax liabilities. Reinvesting the current year’s tax savings increases the after-tax principal investment, which can augment the value of tax loss harvesting further.
请问是因为没有reinvest，所以tax-savig是0吗？因为亏损的部分不能抵扣不存在的盈利部分
