Comment Re: This is the plan (Score 1) 190
E.g. bought that car 2 weeks ago, and now sell for 3x its price? Pay taxes on the difference. Is this your family vehicle and you sell it for essentially its used car market value? No net gain, no taxes.
Wait, you mean I have to pay taxes if I sell the car for more, but no deduction if I take a loss? And I can't depreciate it during normal operation like a business either?
Is there a justification here for screwing the little guy?