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Subject:  Re: LT Mutual Fund Holding Question Date:  5/20/2001  2:12 PM
Author:  Dallas22 Number:  51104 of 127513

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 ;)>>>

Any number of shares you have bought in the last 12 months would be short term. Unless of course you sold some of these shares in the last year and already claimed them as a short-term gain on your 2000 tax return.

If you did buy 2000.00 worth of this fund in the last 10 month those specific shares would be Short-term gains. Average cost method does not automatically make everything long-term.
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