Can You Owe $800k Tax on a Profit of $45k?

The rules for tax losses might lead to different outcomes in the U.S. and Canada

Alexandra Macqueen 26 March, 2021 | 1:33AM
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2020 saw enormous stock market gains. High-profile fast movers – like Tesla (TSLA), Apple (AAPL), Amazon (AMZN) and Zoom (ZM) – blazed seemingly unstoppable (though volatile) upwards growth paths. And thanks to stock-market apps and online trading platforms offering friction-free access to everything the market has to offer, everyone could (and did) participate. Ordinary investors with no special training or knowledge entered the market with modest means and exited with newfound wealth.

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About Author

Alexandra Macqueen  Alexandra Macqueen CFP®, regularly consults to businesses, organizations and other planners on retirement income planning, annuity analytics, and other personal financial topics. Follow her on Twitter at @moneygal.  

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