“And, if you can tax a gain, then you can deduct a loss.”
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And if the unrealized gain that was taxed vanishes (e.g., the high-flying stock that the unrealized gain was based upon plunges in value) into thin air without being realized? Does the tax that was taken get refunded to the poor Schmuck who didn’t sell at the stock’s peak when it was taxed?
Enquiring minds want to know.🤷♂️🤷♂️
Wow, beat me by one second!
Exactly!