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Originally Posted by Stupe the Second Sacker
Thank you and that certainly stinks.
I'd guess that as well. Either that or Biden will have successfully turned us all into businessmen.
Wonder what the criteria to meet is for being an investor? Holding for a certain period? I'll check the article.
Thanks again
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As outlined in the article, there’s not a distinct dividing line. It’s all facts and circumstances. In some ways, it could be as much of a question as how you view and approach it. Do you self identify as an investor? How often do you buy and sell? Do you make money at least sometimes when you do sell?
I would guess that anyone who sells even every once in a while, and makes a little money doing it on some sales is going to be fine claiming to be an investor.
Of course, all of the people running around here proclaiming that they will never ever sell no matter the price might have a harder time. But if they actually never sell, then they wouldn’t care anyway, because they’ll never have a gain or a loss, so there’s no tax consequences to them, at least under current tax law.
Now if the government gets around to implementing some of the proposals on taxing appreciated property, especially if they lower the thresholds low enough, then that would be a different scenario. But Bernie and his friends are likely to have a hard time getting that through, at least at thresholds that are low enough to effect most collectors.