Supreme Court Weighs Taxation of Unrealized Gains, Potentially Costing $340 Billion
• At issue in Supreme Court case is whether unrealized gains can be taxed • Unrealized gains come from assets like stocks that have increased in value • Current tax code requires income be "realized" before it's taxed • Ruling for plaintiffs could cost $340B over next decade per Justice Dept. • Broad ruling could lead to many other tax code provisions being challenged