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Then don't tax unrealized gains but also don't have loopholes that allow the untaxed use of unrealized gains (collateralized loans) or that eliminate unrealized
by pishpash 4y ago
Then don't tax unrealized gains but also don't have loopholes that allow the untaxed use of unrealized gains (collateralized loans) or that eliminate unrealized gains like the stepped up basis.
- bpodgursky 4y agoSure
- jdasdf 4y agoCan you explain to me how borrowing money is actually income?
- yardstick 4y agoIf the borrower defaults, and thus cedes the collateral to the lender, does the borrower also get to default on their tax obligations now that the shares aren’t theirs? Or is that added to their debt mountain? There’s lots of schemes around borrowing but never paying it back, deferring payment until death, paying it back such a way the money is just returned to you via some other entity, etc.
- jdasdf 4y ago>If the borrower defaults, and thus cedes the collateral to the lender, does the borrower also get to default on their tax obligations now that the shares aren’t theirs? Or is that added to their debt mountain? They are taxed for the sale yes.