KAMABLA Harris thinks this is a position to run on. Her fucking middle class neighborhood would have never existed under her policy of idiocy.
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If I "realize" a loss on a previous "unrealized" gain does that mean I get a refund?
Don't be silly. They will give you credit of 3 grand a year until you are even. If you don't have any new gains you are shit out of luck.
Does that sound familer?
No, it doesn't, but I'm not surprised.
The house never loses.
If you lose on stocks now,you can only deduct 3 grand a year.
I think 300 would be more in line here.
They are probably tired,of the poors in their market.
Not on your life.
You don't get a refund. You get a credit. Every expat knows the horrors of having overseas retirement accounts and mutual funds which are taxed this way. Don't think for a minute this "mark-to-market" accounting is unprecedented in the tax code.
Exactly! It's totally not ever gonna be a thing for a rational thinking person. All I can say to her is, "Dumbass."
Property tax is an unrealized gain tax.
Your property tax goes up every year whether you are in the market to sell your house or not.
Consider you paid taxes on the money you pay to buy the house, then you pay taxes semi-annually on the property. So you are double taxed, just like you are on non-edibles, gasoline, state and federal taxes if you make more than poverty level.
It's a WEF policy, a way to force everyone to sell their homes as they won't be able to afford the tax bills and become permanent renters. "You will own nothing..."
The American dream will be gone. Work hard, make money, buy a house, keep working hard, get rich…all gone…worthless Kamala.
Add to that insult to the fact that most gains are directly tied to the debasement of the currency and you'll really get pissed off.