3 ms·

But $26B seems like a pretty good tax write off. Seriously tho, How much of this drop (adjustment to reality) could Musk potentially write off on taxes, etc? Es

But $26B seems like a pretty good tax write off. Seriously tho, How much of this drop (adjustment to reality) could Musk potentially write off on taxes, etc? Especially when it was pretty obvious he tanked it on purpose.

asylteltine 3y ago
Can you write off this stuff? You can only personally write if like 3k of loses per year
- gowld 3y ago
  $3,000 loss limit is the amount that can offset ordinary income. Capital losses can offset unlimited capital gains.
  - asylteltine 3y ago
    [dead]
ars 3y ago
That's not how tax write offs work. You can write that off against profits, and save around 20% - but you still lost 80% of the money. So what would be the purpose of tanking it on purpose? He could just send the US Treasury the money for less trouble.
guntars 3y ago
Losing actual money is not a good tax write off strategy.
KMag 3y ago
I'm not an accountant, but doesn't he need to realize investment losses in order to write them off? Capital expenses can be depreciated for tax write-offs, but I wasn't aware that corporate investments could be marked to market for write-offs.
- thghtihadanacct 3y ago
  I dont know either but I cant fathom why he paid that much for the company only to play Nero.
  - KMag 3y ago
    Like most super-successful people, he's smart, hard-working, overconfident, and very lucky. His luck didn't work out for him this time when he overstepped his expertise. Survivorship bias made him think he'd be fine. (Yes, it's very possible to be both smart and overconfident.)
nova22033 3y ago
https://www.youtube.com/watch?v=aCP27_vquxQ https://www.youtube.com/watch?v=aCP27_vquxQ
mminer237 3y ago
Until it's realized, nothing. If he sold Twitter tomorrow, he could take the $25 billion loss and not pay taxes on that much of his next capital gains, essentially saving him $5 billion, for a net loss of only $20 billion.

asylteltine 3y ago

Can you write off this stuff? You can only personally write if like 3k of loses per year

gowld 3y ago
$3,000 loss limit is the amount that can offset ordinary income. Capital losses can offset unlimited capital gains.
- asylteltine 3y ago
  [dead]

ars 3y ago

That's not how tax write offs work. You can write that off against profits, and save around 20% - but you still lost 80% of the money. So what would be the purpose of tanking it on purpose? He could just send the US Treasury the money for less trouble.

guntars 3y ago

Losing actual money is not a good tax write off strategy.

KMag 3y ago

I'm not an accountant, but doesn't he need to realize investment losses in order to write them off? Capital expenses can be depreciated for tax write-offs, but I wasn't aware that corporate investments could be marked to market for write-offs.

thghtihadanacct 3y ago
I dont know either but I cant fathom why he paid that much for the company only to play Nero.
- KMag 3y ago
  Like most super-successful people, he's smart, hard-working, overconfident, and very lucky. His luck didn't work out for him this time when he overstepped his expertise. Survivorship bias made him think he'd be fine. (Yes, it's very possible to be both smart and overconfident.)

nova22033 3y ago

https://www.youtube.com/watch?v=aCP27_vquxQ https://www.youtube.com/watch?v=aCP27_vquxQ

mminer237 3y ago

Until it's realized, nothing. If he sold Twitter tomorrow, he could take the $25 billion loss and not pay taxes on that much of his next capital gains, essentially saving him $5 billion, for a net loss of only $20 billion.