Total capital gain distributions from a mutual fund in a taxable account

sgordhandas — Mon, 09 Mar 2026 08:35:32 GMT

I have a significant Total capital gain distribution from a mutual fund in a taxable account that came in on one transaction on the last day of 2021. This is causing me to owe significant taxes at the federal and state levels + penalties. Other than annualizing my income feature in Turbotax, are there any other steps I can take to ease the pain?

Re: Total capital gain distributions from a mutual fund in a taxable account

JulieS — Wed, 09 Mar 2022 20:28:21 GMT

No, you just have the two options at this point, annualize the income and hope it reduces your penalty a lot, or you can let the IRS figure the penalty and then ask for the penalty to be waived after they bill you.

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Total capital gain distributions from a mutual fund in a taxable account

Re: Total capital gain distributions from a mutual fund in a taxable account