Sen. Ron Wyden, D-Oregon, has proposed marking-to-market the investments that are held by 'millionaires and billionaires.' That means your appreciation would be subject to a tax each year. Here's why making it work won't be easy.
A new proposal that would subject wealthy investors to taxes on the appreciation of their holdings — even if they don't sell — could come with a host of complexities.
Tax policy experts noted that while it's early days, implementing a mark-to-market system on brokerage accounts, real estate and other holdings might be easier said than done. Figuring out the appreciation of a stock or a mutual fund isn't all that hard to do, but calculating gains on real estate investments, partnership interests and other closely held businesses could present a problem.
"If you sold a stock and you have cash proceeds, you have money that you can share with the government," said Rosenthal."If you didn't sell it, you don't have the money to pay the tax.""You must be able to deduct these losses or carry them forward so that you can deduct them at a future time when the asset appreciates," said Pomerleau.One possibility might be to deduct the losses on your investment holdings against your wage income, Pomerleau said.
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