As of November 30, 2017 Ms. B had $12,000 capital losses and no capital gains. She owns 4,903 shares of GG stock with a $15 basis and a $45 FMV per share. Mrs. B plans to hold her stock for three more years before selling it and using the proceeds to buy a home. However, she could easily sell 400 shares to trigger a $12,000 capital gain and then immediately repurchase them. If Ms. Bs marginal income tax rate is 33.9%, she is subject to the Medicare contribution tax, and she uses a 4 percent discount rate to compute NOV, should she implement this strategy.