NEW YORK (AP) — How painful was tax season for you?
For many investors with mutual funds in a taxable account, it was tougher this year than last. That’s because the best year for stocks since 1997 pushed many funds to make capital gains distributions to their shareholders, and those got taxed even if the shareholder didn’t sell any shares. Investors who make the biggest incomes got a double whammy: They paid a higher percentage of their capital gains distributions in taxes than a year before.
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