Do I have to pay capital gains tax if my eggs doubled in price before I ate them? 🤔
😂 Yes! That is only logical!
It’s only illegal if you get caught
Trick question…. Bc it’s the purchasing power of the dollar going down. Not the price of the egg going up??😂
Only if you made a profit on your poops. Then it’s 36%.
Only if you sell
Yes.
Dont give those mofos any ideas
Absolutely, eating the egg means you are realizing its value. HODL for a year to lock in the long term capital gains rate.
Those year old eggs are always the best tasting too. 😆
No, you only incur capital gains tax if you receive something in exchange for the eggs with a nominal fair market value greater than the nominal fair market value which you exchanged or invested to obtain the eggs. Capital gains do not result from consumption, only exchange.
Buy steak. Freeze for 1 year. Sell frozen steak for profit. ==> free money
make unlimited money with this ONE weird trick. Wealth managers HATE it
Hello Ser, This is tha IRS. Send gift card to IRS.iamascammer.com pls. We count ur eggs and you not declare profit. IRS agent
When price of an asset goes up because value of USD goes down, you have to declare a taxable “profit” when you sell your asset for more USD than your basis, despite the purchasing power of the USD proceeds being less than at the time the asset was acquired.