What is Nostr?
JT
npub1z6p…gnud
2024-08-26 19:33:00
in reply to nevent1q…lw6a

JT on Nostr: I think you were taken for a ride there honestly. You'd have been taxed on the ...

I think you were taken for a ride there honestly.

You'd have been taxed on the 500,000 cash at 45%, and then the 500,000 dollars or shares would've been the capital gains cost basis,, so you'd have paid that tax rate (saw 37% tossed around for >300,000). When you sell assets that is when realized tax comes into play.

It doesn't sound like this was an unpaid unrealized tax, really looks like earned income to me, and that you were double-taxed somewhere. That really sucks.
Author Public Key
npub1z6pza500fql0dmqnd82jjls6sdwe58yjl08nemjcejlp6f5et9rszagnud