Thank you for this informative piece - as I'm pretty new to the investment/finance world, this piece really helped me understand the difference between capital gains tax and income tax. It kinda sucks that the 1031 loophole doesn't work anymore, but I was wondering if the IRS can actually track the amount of time we've held on to a particular asset and how much profit we've gained from it?
By the way, I also wrote a piece similar to this, which is about the taxes involved in cryptocurrency and I would really appreciate it if you can give it a read and provide me with some feedback! Thank you!