Since I have paid taxes on my reinvested capital gains in my mutual fund for the past 3 yrs., can I now take them out of the fund without incurring any taxes on them? No. When you sell shares of your mutual fund, you will have a capital gain or loss from the sale equal to the difference between what you sell for and your basis, whether the share was purchased with a check or a reinvested distribution. See IRS Publication 564.Phil Marti
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