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I'm not trying to fight either, what I'm unclear on are the specifics of the fix. If they don't sell, no capital gains are realized, so what do you tax?
by ad404b8a372f2b9 3y ago
I'm not trying to fight either, what I'm unclear on are the specifics of the fix.
If they don't sell, no capital gains are realized, so what do you tax?
- itishappy 3y agoAh, I think I get it. Thanks! I'm not going to be able to comment on that with any confidence.
- eszed 3y agoNot confident in this space, either, but it seems like the loan is the loophole. So maybe using an asset as collateral counts as realizing capital gains? (And, yes, of course: establish a sensible annual exclusion, so no one accuses me of trying to demolish second mortgages for middle-class families, or whatever.) What (good-faith) second-order drawbacks might this have? I'm genuinely curious about whether this would be a feasible idea.