The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: LT Mutual Fund Holding Question||Date: 5/20/2001 2:00 PM|
|Author: ajaskey||Number: 51103 of 119629|
Hi. I've read several hundred posts but could not find exactly this question (but could have missed it).
I've owned shares in a mutual fund since 1986 and have added to it over the years. When I do sell a few shares, now and then, I have used the average cost as a basis for calculating LT capital gains. Whenever I sell, there have been at least that many shares that have been invested over 12 months ago. Now my question:
If I close the fund now, can I declare all gains to be long-term? I've put about $2000 in over the last 10 months; would that portion be consider short-term gains? Or, since I am averaging, can I declare them all LT gains? (Let's assume that the fund did great and no losses are involved ;)
|Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|