Got a question about cap gains and dividend payouts in
mutual funds.

If you're directing that the cap gains and dividends be
directed back into the fund, are they taxable in the
current year or are they deferred until you start withdrawing the proceeds?

I hate to admit ignorance in this area, but I'm a charter
member of the Dambda Phi No 'Chuteless Skydiving Society and Memorial Association. Our motto is "Without a 'chute your
worries about a malfunction are over".

Thanks and regards,

Mike