SumDay
Thinks s/he gets paid by the post
- Joined
- Aug 9, 2012
- Messages
- 1,862
Please be gentle with me. I have a mental block about taxes rules when selling mutual funds, which is why I kind of try to stay away from them.
Let's say I have money in Wellington & Wellesley, and dividends are reinvested. I've made no withdrawals.
Let's say Vanguard shows I have $10,000 in long-term capital gains on those two funds.
Let's also say I have received 1099-DIV's totaling $8,500 over the past several years.
So, if I sell now, would I only need to report $1,500 since I've already paid taxes on $8,500?
Let me know what else you need to know to answer my question. Thank you in advance for whatever kind, gentle wisdom you are willing to share.
Let's say I have money in Wellington & Wellesley, and dividends are reinvested. I've made no withdrawals.
Let's say Vanguard shows I have $10,000 in long-term capital gains on those two funds.
Let's also say I have received 1099-DIV's totaling $8,500 over the past several years.
So, if I sell now, would I only need to report $1,500 since I've already paid taxes on $8,500?
Let me know what else you need to know to answer my question. Thank you in advance for whatever kind, gentle wisdom you are willing to share.
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