I'm puzzled with something on the Tax Form generator. When you drill into a capital gains value on the 1040-Line 7 on a generated tax form, it details how that number was derived. In that detail, I don't understand why some of my forms show a summary item for LTCG realized in the PRIOR year. For example my tax form for 2028 shows "LTCG realized in 2027 on unscheduled withdrawals from the taxable account". As near as I can tell, the LTCG were indeed realized in the prior year to cover expenses. Why are they on the 2028 tax form?
@rickchapman62 If I'm understanding you correctly, it is due to the current method of moving unscheduled withdrawals into the following year for tax purposes. However, Charlie is currently working an alternative - see the current thread "Iterative tax calculations.. time frame??" for more info. It sounds like a Beta option will be available very soon (days) to address this very thing (which is much more challenging than it would appear on the surface).
@jmessner Thank you. I will look at the thread. I saw the thread, but didn't realize it might relate to what I was talking about, so I didn't drill into the details yet.
