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Tax Managed Balanced Fund: Where are the dividends?
Old 02-07-2018, 06:12 AM   #1
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Tax Managed Balanced Fund: Where are the dividends?

LAst year in April, I purchased a Tax Managed Balanced Fund from one of the big brokerage houses , in my taxable account. This fund invest about 52% in munis and 48% in large and mid cap stocks.

I noticed that the 3 quarterly dividend payouts in 2017 were all listed as "non taxable." So I assume these distributions all came from the muni bonds. Ok.
But what about the distributions from the stocks? Granted some companies may not have issued a dividend, but the fund holds close to 900 stocks which some , perhaps most paid out a dividend.

So my questions is shouldn't there be some taxable dividend income for the year?? I am sure there is a simple explanation that I am missing and I did read through the prospectus, but nothing stood out to me. Thanks if anyone can help.
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Old 02-07-2018, 11:02 AM   #2
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Lawrence of Suburbia's Avatar
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Great question!

I presume you mean VTMFX ...
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- Jack Bogle
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Old 02-07-2018, 11:18 AM   #3
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Originally Posted by Lawrence of Suburbia View Post
Great question!

I presume you mean VTMFX ...
Probably not.

The 1099-DIV for VTMFX shows both 1a/1b (ordinary dividends) and box 10 (exempt interest dividents)

Last year, it was about 60% exempt.
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