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re: Neighbor moving due to Biden becoming President...
Posted on 1/22/21 at 11:58 am to RockyMtnTigerWDE
Posted on 1/22/21 at 11:58 am to RockyMtnTigerWDE
quote:
So, you are saying that Biden will not raise taxes on capital gains of a home, when in fact he is?
Link?
quote:
Yes, this does apply to a certain annual income, but he is indeed raising taxes to 39.6% on capital gains, or that is his plan to be more accurate.
Even if he touches capital gains rates, they'd still have to remove the Section 121 exclusion from the IRC to achieve what you're saying. I've seen no proposal to do so.
quote:
Am I wrong?
Unless you can produce something that proposes eliminating 121.
This post was edited on 1/22/21 at 12:06 pm
0
Posted on 1/22/21 at 11:59 am to CHAZILLA
People got triggered and did this after Trump was inaugurated, too. The overwhelming majority realized it is way harder than they possibly thought and gave up.
Posted on 1/22/21 at 12:10 pm to Pianoman
quote:
I'm confused....didn't Biden say he would undo the Trump tax cut?? If so, Trump's tax cut gave middle-class taxpayers makeing way less than $400,000 a tax break, therefore all of those people would have a taxin increase if he does away with the tax break.....no?
ding ding ding.... we have a winner bobby....
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