Taxes on Cash in

[sharkcatcher]

Did anyone ever figure out what the tax rate is going to be when we are finally able to cash in?

[screwball]

i think we need to wait and see but who knows....

[screwball]

14 hours ago, sharkcatcher said:

Did anyone ever figure out what the tax rate is going to be when we are finally able to cash in?

i will pay whatever tax is required...

[sharkcatcher]

I think we all will...just wondering if it's 0%, 10%, 20% or taxed as income. I know we've had a discussion about this earlier but don't know if we ever got the correct answer.

 

[Shedagal]

1 hour ago, sharkcatcher said:

I think we all will...just wondering if it's 0%, 10%, 20% or taxed as income. I know we've had a discussion about this earlier but don't know if we ever got the correct answer.

 

It will be whatever the tax laws are at the time of RV/RI.  The tax laws are subject to change, especially with Trump in office.  Those in the know here believe their will be no tax (Nesara).  You should search the most recent tax discussions for information.  

[Inbedded HorseHead]

3 different financial advisors (via their Tax Experts) have told me it’s not regular “income”, it’s either short term or long term Cap Gains depending on how long you’ve held it…….

[Dinarrock]

16 hours ago, Inbedded HorseHead said:

3 different financial advisors (via their Tax Experts) have told me it’s not regular “income”, it’s either short term or long term Cap Gains depending on how long you’ve held it…….

This has Always been my understanding as well!!! 

[Spoey]

I believe capital gain is corret, i think most of us are deffintly long term.  Im also hopeing THE BIG BEAUTIFUL DEAL is passed!  lower taxes is the plan.