The Globe and Mail reports in its Saturday edition that selling losers to claim a capital loss is a popular tax strategy at this time of year. The Globe's John Heinzl writes that given the more than 40-per-cent plunge in BCE's share price over the past three years, many shareholders must be thinking of this as one way to salvage something. But before you pull the trigger, there are several things to keep in mind. First, in order to claim the loss for tax purposes, you will need to wait at least 30 days before repurchasing the shares. One way around this is to purchase a similar, but not identical, security to hold until you buy back the BCE shares. For example, the Global X Equal Weight Canadian Telecommunications Index has one-third of its assets in BCE, with the remainder split between Telus and Rogers. If BCE rises, you will still have some exposure to the stock. Mr. Heinzl advises BCE holders to not sweat the decision too much: Your main objective is to trigger the capital loss so you can apply it against capital gains and reduce your taxes owing. Be aware that if you want the capital loss to be recorded in the current year, you must sell your shares no later than Dec. 30 because of the one-day settlement time.