Unrealized gains have been a hot topic recently. That is particularly true given the upcoming presidential election, which has spotlighted divisions over tax fairness and how and when wealth and investment income should be taxed.
For example, President Biden's most recent FY25 budget proposal calls for nearly doubling the capital gains tax rate and for taxing unrealized gains, particularly for the ultra-wealthy. And, as Kiplinger has reported, there’s a lot of talk on social media lately about whether Democratic presidential nominee Vice President Kamala Harris will pursue a fictitious “golf tax” or unrealized gains proposals similar to Biden’s. And Mark Cuban, who recently endorsed Harris has weighed in on the issue.
