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01-30-2012, 02:28 PM
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#10 |
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I think this line's mostly filler.
Join Date: Jan 2003
Location: DC
Posts: 13,575
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A savings account may be an asset, but unless your savings account is in a foreign currency, it's not going to make any capital gains. Interest is ordinary income.
(and I'm not sure if foreign currency inflation/deflation is counted as capital gains for tax purposes, though I wouldn't be surprised) (further edit: sometimes)
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