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My financial planner claims that it is "almost impossible" for me as an individual investor to properly calculate the capital gains on funds (of certain kinds) because of the transactions made by the fund during the year which may have had capital gains yet the fund could have lost money from the beginning to the end of the year. Don't the funds have to send each investor a report which outlines all of that for their taxes ?
Are you asking this because you want to pay tax on the Annualized Incoem Method and cen't determine the gains/losses in various funds you won on a quarterly basis? If so, don't bother. You can just report the amounts they tell you, even if they hold all the gains until December and change the character of income retroactively. Use the figures you get quarterly if they are in your best interest, otherwise, use the figures they give you at year-end if they are better for you. You have the best of both worlds. The IRS probably won't ever question it, but keep your records, in case.

Now, why else do you need to know? If it's for investment information, forget it. It probably wouldn't be accurate anyway.

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