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Not familiar with the US tax code, but if Musk borrows $1b with a portion of his Tesla stocks as collateral, will he be charged capital gains tax by assuming th
by renonce 4y ago
Not familiar with the US tax code, but if Musk borrows $1b with a portion of his Tesla stocks as collateral, will he be charged capital gains tax by assuming that these stocks are now worth $1b?
- prottog 4y agoIn the US and most places, you are only liable for capital gains tax on realized gains. The shares have to change hands before a tax is due.
- WalterBright 4y agoWhen you die, the value of the stock at time of death gets whacked by inheritance tax, which is 40% at the federal level and 20% at the state (in Washington) level.