I don't have a dog in this fight, but...

[SamIam]

My OWN reply is belated. You had made your post about capitol gains being like saving back on 1-24.

It is my feeling that comparing capitol gains to saving makes it sound like peope just tucking away what they can in their savings accounts down at the local bank. There is simply no comparison between the two.

[classicman]

Originally Posted by SamIam

It is my feeling that comparing capitol gains to saving makes it sound like people just tucking away what they can in their savings accounts down at the local bank. There is simply no comparison between the two.

Actually they are the same thing.
Almost everything you own and use for personal or investment purposes is a capital asset.
Including your home, household furnishings, stocks and bonds even your personal savings account.

[Lamplighter]

Originally Posted by classicman

Actually they are the same thing.
Almost everything you own and use for personal or investment purposes is a capital asset.
Including your home, household furnishings, stocks and bonds even your personal savings account.

Classic, where do you find this interpretation ?
It runs counter to what I understand.

I agree about your sale of your home being a capital gain
- after personal exclusion(s), cost of improvements and any losses.

But I believe:
... household furnishings are personal property
... stocks and bonds (gains and losses) are taxed as capital gains
... your personal savings account is taxed as ordinary income

Some, but not all, states do have personal property taxes on things like mobile home, boats, RV's etc.

[tw]

Originally Posted by classicman

Almost everything you own and use for personal or investment purposes is a capital asset.

When I eat pâté, that is a capital gain. In the bathroom, it is a capital loss. Can I write that off?

Now I will need receipts. Paperwork.

[infinite monkey]

Originally Posted by tw

When I eat pâté, that is a capital gain. In the bathroom, it is a capital loss. Can I write that off?

Now I will need receipts. Paperwork.

Go with Charmin. The bears say it leaves nothing behind.

[tw]

Originally Posted by infinite monkey

Go with Charmin. The bears say it leaves nothing behind.

If bears use Charmin, then what do the bulls use? Or is there no such thing as a bullshitter?