I am NO tax expert but since our payout last year will not be realized on our taxes until we close out our position (liquidation final or an individual sells) - do we have to worry about what Mr. Biden is up to?
If this farce gets passed - long term capital gains go up 27%?!
I guess I should have sold my remaining xx,000 shares at 30 cents! Snooze you loose as they say.
I explained this to a friend who just retried as he told me, "...you can afford it." The balls of some people thinking this as I drive around a 2009 Traiblazer.
Odd that senators are voting for it / against it hen they haven't read the bill yet!?
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October 4, 2021
Erica York
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Under the House Build Back Better Act (BBBA), the United States would tax capital gains at the third-highest top marginal rate among rich nations, averaging nearly 37 percent.
In the U.S., long-term gains currently face a top marginal tax rate of 23.8 percent at the federal level, the result of a maximum 20 percent capital gains tax rate plus a 3.8 percent net investment income tax. The House Build Back Better Act proposal would raise the top rate to 28.8 percent, and on top of that, apply a new 3 percent tax on income of top earners, including capital gains. The resulting 31.8 percent top marginal tax rate would be the highest federal tax rate on capital gains since the 1970s—and above the generally estimated revenue-maximizing rate of 28 percent.
When including state-level policies, the average top marginal combined tax rate on capital gains in the U.S. would rise to 37 percent, up from 29 percent under current law.
