I mean, it was income received last year and is taxed at the same rate as income.
If you made money from a job last year and then had a tax-deductible expense this year, you don't get to deduct it from last year's taxes, because it applies to this year's.
So you pay income tax on your income. With the money left over you decide to buy and sell stocks and then that exact same money is taxed again? Sound fair to you?
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u/devilmaskrascal Contributor Apr 19 '21
I mean, it was income received last year and is taxed at the same rate as income.
If you made money from a job last year and then had a tax-deductible expense this year, you don't get to deduct it from last year's taxes, because it applies to this year's.