Source: The Hill
by Ryan Ellis
“It’s tax time, and talk of budget reconciliation is in the air on Capitol Hill. There is no better time than now to tackle one of the more bizarre features of our tax code: a phantom capital gains tax on mutual fund savers. Most taxpayers assume confusing tax rules have at least one constant: that capital gains tax is only owed when an asset is sold. If only that were true. Each year at this time, millions of Americans open their brokerage statements and find capital gains reported in Box 2a of their 1099 tax forms, despite never having sold a single share of stock or a mutual fund.” (04/14/26)
https://thehill.com/opinion/finance/5828953-phantom-capital-gains-tax/