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Reply to "Why Are Tax Brackets Adjusted for Inflation but Not Deductions Like Mortgage Interest? Seems Unfair"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]What’s super unfair is calculating capital gains on a house you’ve had for decades. $150k 35 years ago is worth $360k so that should be the cost basis, not starting at the 1990 price. [/quote] Huh? So, if you bought Amazon stock in 1998 and you sell it today you should get an inflation-indexed cost basis. Some folks have some crazy ideas here.[/quote] That actually was a serious proposal a few years ago. To answer the OP certain parts of the tax code are not indexed to inflation intentionally either to bring down the cost of other changes or because it makes it more palatable politically to pass it that way.[/quote]
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