You’re wrong in many different ways:
- Long term vs short term
- different rates
- state capital gains taxes
In this case, with the receiver being a CA resident, he pays almost certainly more than 50% in taxes on this bounty.
- Long term vs short term
- different rates
- state capital gains taxes
In this case, with the receiver being a CA resident, he pays almost certainly more than 50% in taxes on this bounty.
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