if they're going to get to tax unrealized gains, do we get to use unrealized losses as credits too?
i'm not sure they're ready for this shit. the ebay/paypal thing really set shit off. if you accept a payment over $600, paypal is required to report it to the IRS. so if you bought that 80 inch TV, didn't amortize/depreciate it, and now it's 10 years old and needs to be replaced, you could now claim an unrealized total loss.
for anyone who knows what they're doing with their taxes, their unrealized losses will very quickly dwarf their income.
if they're going to get to tax unrealized gains, do we get to use unrealized losses as credits too?
i'm not sure they're ready for this shit. the ebay/paypal thing really set shit off. if you accept a payment over $600, paypal is required to report it to the IRS. so if you bought that 80 inch TV, didn't amortize/depreciate it, and now it's 10 years old and needs to be replaced, you could now claim an unrealized total loss.
for anyone who knows what they're doing with their taxes, their unrealized losses will very quickly dwarf their income.