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What's even worse is I know a few guys that 'financed' the capital gains they owed the IRS (some owed more in taxes than they made in salary).
I know one guy still paying, his stock capped in 7 figures then quickly died out and he could not unload it fast enough, that sucks. The capital gains are sort of unlimited. The capital loss is limited to the cash basis...in his case was like $0 since all were 'gifts'.
He would have been in better shape financially if he turned down these gifts.
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