“No, the idea is that if you have a stock or mutual fund share and it appreciates from $50 to $70, you’d have to count the $20 as capital gains and pay tax on it, even though that “gain” is only on paper and didn’t put any cash in your pocket, rather than figure out the gain when it’s sold and pay tax on the total gain then.”
So if it appreciates from $50 to $70 you pay the unrealized capital gains, then it falls from $70 to $40 you probably do not get unrealized capital losses from these socialists. Nutsoid.
OR-—as the stick continues to gain-—each gain will be based on the ORIGINAL cost or will it be calculated in stair step manner???
Year one-—$50 becomes $70—you pay tax on $20.
Year two-—$70 becomes $90...You pay tax on $20 again-—or do you get charged tax on $40???????
IF stock goes down-—do you get to claim a LOSS????
Biden & company have never done real bookkeeping...only the BRIBING part of running a company.
No, you probably would, or at the very least, your basis will now be $70, but they’re hanging a sword of Damocles over their own head. Can you imagine what a stock market crash would do to tax receipts? They’d get nothing, and then they’d be whining that for “essential government services”, (is there such a thing?), they have to raise rates (only to make them even MORE inequitable than they were before).