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The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Personal Finance / Tax Strategies
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Author: hardwaterruss   😊 😞
Number: of 80 
Subject: Re: Avoiding CapGain Tax schemas
Date: 01/07/24 3:52 PM
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Sadly you will have to pay Capital Gains Taxes (Schedule A + IRS form 8949) on everything you sell regardless of what you plan to do with the $'s after the fact.

From a Google Search:
What is the rule for capital gains tax?
It is owed for the tax year during which the investment is sold. The long-term capital gains tax rates for the 2023 and 2024 tax years are 0%, 15%, or 20% of the profit, depending on the income of the filer.1 The income brackets are adjusted annually.
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