Calculator · Tax year 2026

Find your best way out.

Enter the position. See what every open route leaves after tax. Each route uses the median fee on the leaderboard.

1. 01Exchange fundTax now $0Fees $479KDiversified Day oneLock-up 7 years$9.17M+$696K vs. selling
2. 02Split: 80% exchange fund, the rest long/short 150/50Tax now $0Fees $587KDiversified 15 monthsLock-up 7 years on 80%$9.06M+$586K vs. selling
3. 03Long/short sell-down, 200/100Tax now $0Fees $670KDiversified 3.1 yearsLock-up None$8.66M+$185K vs. selling
4. 04Long/short sell-down, 150/50Tax now $0Fees $375KDiversified 6.3 yearsLock-up None$8.57M+$92K vs. selling
5. 05Long/short sell-down, 250/150Tax now $0Fees $911KDiversified 2.1 yearsLock-up None$8.56M+$88K vs. selling
6. 06Sell now, buy an index fundTax now $1.76MFees $22KDiversified Day oneLock-up None$8.48M
7. 07Keep the positionTax now $0Fees $7KDiversified NeverLock-up None$7.00M−$1.48M vs. selling

Not open to you yet

• Direct index sell-downAt this leverage the stock can be at most 40% of the account. You need about $7.5M of other cash.
• §351 ETF conversionA single stock fails the §351 diversification test (no issuer above 25%).

Values are median outcomes under a lognormal model with the assumptions above. One stock has a lower median than an index with the same expected return, because of its higher volatility. The model does not count extra harvested losses, dividends, the character of gains, or the alternative minimum tax. Use it to compare routes, then check the numbers with an advisor.