Any accounting types out there? Apparently I did really well in 2014 on my mutual funds. So well I had to take a distribution to pay the tax man. Paid my capital gains etc. for 2014. Well I got a 1099-B on the distribution and I have even more capital gains listed. If I paid capital gains in 2015 for the 2014 taxes, why do I owe even more? Is it on the amount that the account accrued from the beginning of the year? It was a significant amount. Over $1,400 on a $4K disbursement.
The other question is why do I need to pay capital gains when my account is worth 7% less this year than last? If this horrible slide continues should I expect to not pay capital gains in 2017 for 2016?