NoMoreJob
Recycles dryer sheets
- Joined
- Feb 8, 2012
- Messages
- 410
If I withdraw $$ from my taxable account realizing a capital gain but have a sufficient carryover loss to fully offset it will that impact my MAGI for ACA purposes.
Since MAGI is based upon 1040 data, and the loss carryovers happen on schedule D Part II line 14, I suspect it is the value on line 15 that matters or even the combined value you get of short and long, that appears on form 1040 line 13. Note that MAGI is based upon AGI which is found on line 37 of form 1040 and includes line 13 in the total.If I withdraw $$ from my taxable account realizing a capital gain but have a sufficient carryover loss to fully offset it will that impact my MAGI for ACA purposes.
Since MAGI is based upon 1040 data, and the loss carryovers happen on schedule D Part II line 14, I suspect it is the value on line 15 that matters or even the combined value you get of short and long, that appears on form 1040 line 13. Note that MAGI is based upon AGI which is found on line 37 of form 1040 and includes line 13 in the total.