This year I sold off 30K of a stock ETF (that appreciated about 10K from when I first bought it a few years ago). I then quickly reinvested the proceeds into a bond ETF. Does the full 30K proceeds of the sale still count as 'income' that will raise my tax bracket and reduce my Covered CA health care benefits? Or perhaps do only the 10K capital gains count as 'income'? Or does it not count as ANY 'income' because I reinvested it all?
You'll need to sign in or create an account to connect with an expert.
Only the appreciated 10K will be income.
Only the appreciated 10K will be income.
if you used a domestic financial institution for the sale, you should have gotten a 1099-B, that will reflect the proceeds and tax basis of the shares sold.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.