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re: tax deduction question
Posted on 4/12/24 at 12:35 pm to LSUFanHouston
Posted on 4/12/24 at 12:35 pm to LSUFanHouston
Follow up question - would stocks have the same affect as gambling in this situation?
Situation A: Guy making $100k salary. no stock market actives.
His taxable income will be $86,000
Situation B: Guy making $100k salary. stock market profits $20k on one stock and loses $20k on another stock in a year.
His taxable income will be $86k or $100K?
seems they should be treated the same way if they aren't either way a zero net gain shouldn't change your taxable income
Situation A: Guy making $100k salary. no stock market actives.
His taxable income will be $86,000
Situation B: Guy making $100k salary. stock market profits $20k on one stock and loses $20k on another stock in a year.
His taxable income will be $86k or $100K?
seems they should be treated the same way if they aren't either way a zero net gain shouldn't change your taxable income
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