<prompt> Human: From an options trade short term 1 year I just walked away with 60k profit. Id like to try to minimize the cap gains tax Im going to pay on this. What do you guys suggest? I make a good living so I pay plenty of tax already. 33 tax bracket. Can I open an IRA and contribute for my wife and myself the maximum for 2016 and 2017? Any other ways to reduce my tax burden? Thanks for any advice you can offer.  <response>: Got any stinkers in your portfolio - sell any losses to offset. 