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> That includes unrealized gains. And also includes everything else. You pay the same tax if you have $1m in shares that you bought long ago for $10k or $1m i
by kgwgk 5y ago
> That includes unrealized gains.
And also includes everything else.
You pay the same tax if you have $1m in shares that you bought long ago for $10k or $1m in shares that you bought last month for $2m.
- md_ 5y agoIndeed. An unrealized capital gains tax by itself (which does not tax the basis) probably requires you adjust the taxable basis to ensure there's no double taxation at sale. A wealth tax irrespective of basis is administratively easier, I think.