Hi, DW and I have finally gotten to the point that we are seeing a fairly substantial, for us, after-tax diversified portfolio of index funds with Fidelity. I don't intend to sell until I need to so any gains will be taxed at the 20% capital gains rate. My question is about dividends. Do I need to make sure I have selected the option to reinvest all dividends in that security to maintain tax efficiency? If those dividends are instead deposited into my core MM account, are these considered short-term gains and taxed as regular income? Pretty basic I know and thanks much.