Despite the lack of “real” gains, the Internal Revenue Service imposes capital gains taxes on such transactions. Nebraska has now opted out at the state level, declining to carry the IRS’s position into the definition of Nebraska income.
Interesting that a state can tell the IRS to shove it. Why can't they do this with other things?
Prairie 0 points 1 week ago
Interesting that a state can tell the IRS to shove it. Why can't they do this with other things?