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#1
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Hypothetically you invest 1000 dollars in a company's stock in 2006. In 2036 it is worth 21,000 dollars and you sell it. Would you be taxed on 20,000 or is it adjusted for inflation some how?
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#2
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not adjusted. So if your investments only, exactly beat inflation, you will be taxed on your "gains" and will lose money to the government even though you didn't gain anything.
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#3
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I thought so
What a joke Im suprised that nobody has ever challenged this in tax court |
#4
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I'm sure they have challenged it and lost.
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#5
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This is one of the reasons that high-yield savings accounts kind of suck. After taxes, you're barely beating inflation, if even.
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#6
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all taxes suck.
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