Viewing a response to: @libertyteeth/re-codingdefined-re-libertyteeth-re-codingdefined-why-you-should-blog-for-financial-independence-20170814t212523293z
Yes we do have to pay the tax on the unrealized gain. Let's say I have bought a share for $10 and now if the price is $100. Then I have to pay 30% tax on $9 earned.
| author | codingdefined |
|---|---|
| permlink | re-libertyteeth-re-codingdefined-re-libertyteeth-re-codingdefined-why-you-should-blog-for-financial-independence-20170815t114730927z |
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So what if it goes back to $10 before you sell? Do you get the "taxed gain" back? Or are you left with $1? Seems like fraud that they're doing. If you buy a house and it goes up in value, do they take a piece of it before you sell it? Do you see what I'm getting at? The rules for stocks are unlike the rules for automobiles, clothes, Beanie Babies, etc. It's neat to learn how it works over there though, thanks!
| author | libertyteeth |
|---|---|
| permlink | re-codingdefined-re-libertyteeth-re-codingdefined-re-libertyteeth-re-codingdefined-why-you-should-blog-for-financial-independence-20170816t220553969z |
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That's true, if it goes back to $10, they will not ask for it. They will ask the tax only on the profit. Same way if you had bought a house $1000 and then sell it of for $1500. You have to pay the tax on $500 but I am not sure about the percentage here. For shares it is fixed at 30%. Fraud as call it, that's why you will not see a lot of Indians into Blockchain and all, because they fear that they have to pay the tax to the government.
| author | codingdefined |
|---|---|
| permlink | re-libertyteeth-re-codingdefined-re-libertyteeth-re-codingdefined-re-libertyteeth-re-codingdefined-why-you-should-blog-for-financial-independence-20170817t044803002z |
| category | motivation |
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