Like, if its collapsed, do I file? Do I even have to?
I am most certainly going to pay my state tax, but then what? What about stuff like my social security funds?
(I am asking for others because we’re at that point now I suppose)
Like, if its collapsed, do I file? Do I even have to?
I am most certainly going to pay my state tax, but then what? What about stuff like my social security funds?
(I am asking for others because we’re at that point now I suppose)
Yep, that is how capital gains works for everyone, including you and me. You pay taxes on them when you sell, when you have income.
Tesla has sold quite a lot, yet paid almost nothing in taxes. So obviously it doesn’t work that way for “everyone”.
https://itep.org/tesla-reported-zero-federal-income-tax-in-2024/