Biden proposes capital gains tax of 44.6%, highest in history

[No War, but the War on Christmas]

Awesome. Now let's deliver Biden a congressional majority America, please? Pretty please?

And maybe consider reducing, or eliminating, the capital loss tax deduction while we're at it, but that one may be an even longer shot.

[No War, but the War on Christmas]

Awesome. Now let's deliver Biden a congressional majority America, please? Pretty please?

And maybe consider reducing, or eliminating, the capital loss tax deduction while we're at it, but that one may be an even longer shot.

Posts like this make me think that people have zero idea how the tax system works . The capital loss deduction is already significantly limited

The deduction can be made against future capital losses practically indefinitely, its you who doesn't know in this particular situation.

[No War, but the War on Christmas]

Awesome. Now let's deliver Biden a congressional majority America, please? Pretty please?

And maybe consider reducing, or eliminating, the capital loss tax deduction while we're at it, but that one may be an even longer shot.

Posts like this make me think that people have zero idea how the tax system works . The capital loss deduction is already significantly limited

The deduction can be made against future capital losses practically indefinitely, its you who doesn't know in this particular situation.

Why shouldn’t unused capital losses be allowed to offset future gains . That loss you incurred is still a loss you actually incurred and really if you think that’s a problem then maybe you should support significantly increasing the $3,000 capital loss deduction. Do so and people wouldn’t have to carryover much of their capital losses to begin with .

I would be okay with increasing the personal limit while restricting the amount you can deduct based on future losses, sure. Of course I personally think an economy based on speculation is terrible, so as usual,  think we just have different motives.