I've invested in a mutual fund for the first time in 2020. Am I taxed on the difference between the starting balance and the balance at the end of the calendar year?
You'll need to sign in or create an account to connect with an expert.
No. Tax on a non- retirement investment includes any interest or dividends paid during the year and any gain if you sold any of the investment. If you did not sell any of the investment there is no tax on the gain. It is called an unrealized gain.
Thank you!
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
smncsilla
New Member
knownoise
Returning Member
mpiseter
New Member
hurrington
New Member
mrslady313-
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.