Even though I did not take money out of my Mutual funds, I will get hit with over 40k in capital gains. After I claim this on my taxes I will have to pay back some of my ACA tax credits. Next year I will be required to predict more income when I apply for ACA. Since I have not taken this money out I did not receive this income.
Is there any loophole to not have to claim these internal mutual fund capital gains.
I am 61 and without tax credits my insurance is $1000 a month.
Any advice is appreciated.
Is there any loophole to not have to claim these internal mutual fund capital gains.
I am 61 and without tax credits my insurance is $1000 a month.
Any advice is appreciated.