End Tax-Free Monetization of Wealth
Cash withdrawn from appreciated property using financial instruments has become a major source of untaxed support for the standard of living of our wealthiest citizens. The proposal would treat cash received under a contract for sale of property or for writing an option on property as realization of gain to the extent the taxpayer or a related party holds the property (or substantially identical property) with unrealized appreciation. If the…
[wppb-login]