The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/mutual-fund-capital-gains-11893969.aspx

Subject:  Mutual Fund Capital Gains Date:  1/29/2000  6:45 PM
Author:  haroldbiker Number:  26327 of 121144

Hi-

I'm a little confused by tax accounting for mutual funds.

Let's say that I bought the Gizmo Fund (symbol WHIZX) on 1/2/98 for $10,000.

In 1998, I got a letter saying that there were:
$1,000 in long term gains
$500 in short term gains
$150 in dividends

In 1999, I got another letter:

$2,000 in long term gains
$700 in short term gains
$350 in dividends

On 1/2/00, I sold the fund for $12,000.

What do I owe taxes on, and when?

Thanks,
Harold

PS - I apologize if this question has been asked before - I did a search and looked through the FAQ's.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us