Your total (net) capital gains for the year will be included in your ACA MAGI. So you can subtract any carryforward losses and any current year losses from any gains that you're considering selling.Also, if I offset capital gains, are they still included in MAGI for the purposes of ACA subsidies? I am not on ACA now, but will be at some point next year. I know in calculating MAGI I would add back in interest income that would normally be tax exempt, but it looks as though I don't add back offset capital gains - is that correct? So part of what I'm asking is whether I could reasonably do more such matched selling off in a year when I'm also trying to minimize MAGI.
For example, if you have a $10k loss this year, and a $12k gain, then only $2k is taxable and included in your ACA MAGI, and if you also have at least a $2k carryforward loss from prior years then there is nothing added to your MAGI.
Statistics: Posted by MP123 — Sun Aug 25, 2024 9:57 pm — Replies 2 — Views 232