No. of Recommendations: 6
hc: It looks like he has now decided to pay 50 BILLION or so in taxes on realized gains in 2024.
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This number looks way high. How are you calculating this capital gains tax bill?
jim: The taxable amount is in the statements.
"Our sales of equity securities produced taxable gains of $59.6 billion in the second quarter and $73.7 billion in the first six months of 2024"
The difference is between 'taxable gains' and 'taxes on gains'. The latter is now up to about $74b, and may presumably go higher, and the former is about 21% of $74b, i.e. $15.5b, and will also go higher, by the end of the year, although I think it is very unlikely that it will ever get to $50b.
$50b in capital gains taxes would imply another $90.6 in GAINS beyond the $73.7b in the first half of the year. Selling all the remaining Apple shares (something Buffett has said he wouldn't do) would 'only' generate another $15.8b in capital gains, taxes, for instance.
dtb
