New answers tagged capital-gains-tax
1
You will have a long-term capital gain of $9 per share (less whatever sharespost charges you). That's about it. You'll pay Federal and State income tax (if your State taxes capital gains) on the income.
2
Is that true? If that is the case, then the person inheriting the house and stock can sell them, say, 5 years later, and if there is no gain, pay $0 tax?
And let's say if the law doesn't change, and the house and the stock is passed down to 5 generations, some 200 years later, and the person who sells them also has no gain between the time he receives ...
3
This is more of a political question, so....
The exemption from capital gain taxes for a primary residence should be understood in context of the subsidization of home ownership that the US practices. The default would be for you to pay taxes on every cent in gains, but the US sees value in more people owning their own homes, and so exempts some gains as a ...
5
I understand where you're coming from. Our house is worth approximately $500k more than we paid for it 9 years ago, and as the market keeps rising we keep accumulating tax liability for when we sell. But we don't want to sell it, yet. Yes, this leaves us with a higher tax bill than people who are willing to move to avoid paying taxes, but not by much. You ...
6
There is no logic to tax rules. Politicians identify a "problem" then write legislation to "fix" it. The limits are whatever could be negotiated and passed.
You could also ask why is there a capital gains exemption at all?
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