- Joined
- Oct 31, 2008
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- 10,260
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- 5
Well, it’s coming out that the Senate tax bill is treating all stock holdings as “First In First Out.” That means that you have to sell the first shares you get from a company first. For those that aren’t following, let’s say you work for Amazon, receiving 3 shares per year as part of your stock options. When you were given those shares when you started working there in 2000, they weren’t that valuable. Less than $100/share. Now, they are worth over $1100/share. When you sell them, you have to sell your oldest ones first, meaning that those are the ones worth the most. That also means that you’re paying more in capital gains tax that way. That’s a real bummer, harming the retirement savings of those that have been saving.
This tax bill is a bad bill. Not in a left v right way, but just in an objectively bad policy kind of way. It takes effect next year, so maybe now is the time to dump all my stock and jump all in on bitcoin before someone else finds new ways to tax me...
This tax bill is a bad bill. Not in a left v right way, but just in an objectively bad policy kind of way. It takes effect next year, so maybe now is the time to dump all my stock and jump all in on bitcoin before someone else finds new ways to tax me...