I have some mutual funds that are not performing as I hoped, and I would like to get out of them. They are not worth what I paid for them originally in Feb 99. What kind of taxable avent would this provoke? Maybe I should try to exchange them into another fund within Vanguard??Also, I used proceeds from a mature annuity to buy these funds. I was told by a fiancial advisor,(who sold me yet another mutual fund that is not performing!)that I will pay 10% of the annuity proceeds because I took a payout, in addition to the income tax on the annuity gains. Is this true? I didn't realize I should have made an exchange instead. If anyone could shed any light on these two questions ,I'd be grateful, as I am in Mexico without the benefit of advice.
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