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A comment on Undergraduates with family income below $200k will be tuition-free at MIT. Parent comment

Re:Undergraduates with family income below $200k will be tui... by bb88 on Wednesday November 20, 2024 @06:21PM (#42199183)
> A bunch of stock is a source of income too, but it wouldn't be wrong to use some of it.

Normal US tax law that most people fall under says no, stock itself is not income. It's only taxed at the time of sale. If you ask for mark to market taxing then any increase in market value during the calendar year will count as income -- even if you didn't sell anything throughout the year. But usually those people are drawing a direct income from trading.

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Re:Undergraduates with family income below $200k will be tui... by s1artibartfast on Wednesday November 20, 2024 @06:36PM (#42199310)
Yes, but I think these tests look at both income and assets (like stock). That is why people get dinged for owning assets, even if they are a source of income.
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