Will we pay taxes on the spread ??

[DEL RIO]

Will we pay taxes on the spread , example if CBI rate is $3.87 and your bank is $3.67, charges are $200.000 who pays { tax } on it ? I'm not sure yet , but i will be contacting my bookkeeper hours after RV . I like to stay quiet for the time being . thanks mdr

[muchodinaro]

You only pay taxes on the gains. The spread is not a gain.

[DEL RIO]

thank you kindly ! and you have a nice day

[Tiffany]

This was something I was wondering as well thanks for the 411

[Doc31]

You only pay taxes on the gains. The spread is not a gain.

Yep

[Adam Montana]

Will we pay taxes on the spread , example if CBI rate is $3.87 and your bank is $3.67, charges are $200.000 who pays { tax } on it ? I'm not sure yet , but i will be contacting my bookkeeper hours after RV . I like to stay quiet for the time being . thanks mdr

The spread is the bank's profit, not yours.

Absolute answer: No, you should not plan on paying taxes on the spread. However....

Depending on how crafty your tax advisors are, you may be able to use the spread as a deduction - it really depends on how your estate is structured. I've actually been working with some of our VIP advisers on exactly this subject.

[DEL RIO]

THANKS MR. MONTANA !! ,GO PACK GO , IF THIS HITS I'M GOING TO TITLE TOWN TO SEE GREEN BAY KILL THE BEARS , LAST GAME OF THE NFL'S REGULAR SEASON !!

[Adam Montana]

The spread is the bank's profit, not yours.

Absolute answer: No, you should not plan on paying taxes on the spread. However....

Depending on how crafty your tax advisors are, you may be able to use the spread as a deduction - it really depends on how your estate is structured. I've actually been working with some of our VIP advisers on exactly this subject.

Why would anyone give a negative rep for that comment?

I'm seriously considering removing the reputation function, some of you clearly don't understand how to use it.

[mrswas95]

Why would anyone give a negative rep for that comment?

I'm seriously considering removing the reputation function, some of you clearly don't understand how to use it.

Oops...Adam, was using the droid and trying to figure out the obnoxious origins of the negative feedback, and somehow I dble dinged you...now how the hell do I undo that...never tried to interfere before...returning now to my previous state...sry boss was trying to help

[Adam Montana]

Oops...Adam, was using the droid and trying to figure out the obnoxious origins of the negative feedback, and somehow I dble dinged you...now how the hell do I undo that...never tried to interfere before...returning now to my previous state...sry boss was trying to help

It doesn't matter much, people do worse things to me around here

[MovieMaker]

Oops...Adam, was using the droid and trying to figure out the obnoxious origins of the negative feedback, and somehow I dble dinged you...now how the hell do I undo that...never tried to interfere before...returning now to my previous state...sry boss was trying to help

OK I fixed it!

+ 1 for Adam

[mrswas95]

Thank you, friend!

[ExecConsult]

You only pay taxes on the gains. The spread is not a gain.

I could be wrong on this but my understanding is just a little different. My understanding is that you claim the entire amount as income and then deduct the spread as investment expense under section 212. The result is the same, but as far as I understand it, that is the procedure.

Best of Blessings,

Mark