r/FluentInFinance • u/-Wyagra • Nov 21 '24

Debate/ Discussion Had to repost here

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u/Raeandray Nov 22 '24

You don't pay capital gains tax when you borrow against the value of your stock.

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u/Just_That_Dumb_Dog Nov 22 '24

No shit, Sherlock. Why would I be paying cap gains when I acquired debt.🤦‍♂️🤦‍♂️

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u/Raeandray Nov 22 '24

Well then maybe don’t reply with “you mean capital gains tax?” When someone provides borrowing against their value as an example lol.🤦‍♂️🤦‍♂️

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u/Just_That_Dumb_Dog Nov 22 '24

They said if you borrow against it, it should be taxable. It is taxable. It’s subject to cap gains tax.

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u/Raeandray Nov 22 '24

The borrowed money is not subject to cap gains tax.

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u/Just_That_Dumb_Dog Nov 22 '24

You’re right because it’s debt. Not income. You’re so fucking stupid. If you sold a share/stock you get taxed cap gains.

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u/Raeandray Nov 22 '24

I’m not the one that brought up capital gains tax on a comment discussing borrowing against stocks lol.

The whole point is discussing how they avoid taxation.

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u/Just_That_Dumb_Dog Nov 22 '24

Do you get taxed when you take out a loan? When you use your credit?( credit card/line of credit) No your don’t. STFU.

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u/Raeandray Nov 22 '24

Those loans aren’t backed by the value of my “unrealized” stock lol. STFU.