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Deductions & credits
oh, they sent it on a 1099MISC, of course. my question really revolves around the status of the "original" transaction, which was an unauthorized sale. the sale generated a profit, as opposed to the earlier NO SALE and subsequent loss of market value.
the settlement was actually for the additional taxes that were paid as a result of the sale that we did not want to be made. could this amount be considered as part of the 'selling price" and therefore subject to the Capital Gain Tax Rates? a 20% tax rate is much preferable to a 32% tax rate. lol.
March 17, 2021
11:25 AM