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Level 1
March 20, 2021
Question

Do I pay taxes on unrealized capital gains?

  • March 20, 2021
  • 1 reply
  • 2 views
My turbo tax federal form shows $33,000 in capital gains.  This must mostly include unrealized gains; gains not harvested.  Are taxes due on unrealized gains?

1 reply

Level 15
March 20, 2021

There is no tax on unrealized capital gains.  The program can only include what you have entered. 

fanfare
Level 15
March 20, 2021

your 1099-B will not show any unrealized gains.

anything there is a SOLD you executed in 2020 and is either Long Term or Short Term.