(Washington)
Advisors and their clients can take a long, deep breath today. What was to possibly be one of the most disruptive tax policy changes in recent memory has just been done away with. FIFO, or a first-in-first-out provision that would have made investors sell their oldest holdings first, has just been eliminated from the Republican tax plan. The plan would have led to much bigger tax bills for many investors, but it was removed from the new compromise plan being developed by the House and Senate.
FINSUM : This is good news. This would have caused tax liability to soar for many and would have eliminated investment freedom to a significant degree.
- stocks
- FIFO
- taxes
- equities
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
