How to withdraw from Mutual Funds

[renferme]

I'm not currently withdrawing from any non-401k Mutual Funds, but am wondering how people do withdraw from them.
.
What is the best way to make withdrawals ?
Do you take monthly, quarterly, yearly withdrawals ?
Reason I ask : it seems to me that taking monthly withdrawals complicates the tax filing procedures.
If there is anything I hate, it's tax season and the complications of handling dividends and capital gains from multiple stock sales and fund redemptions.
.
Maybe I'm making a mountain out of a molehill, but would like to here how others do it.
Thanks.

 

[John Galt]

I think it is a legit. question, but not something I need
to fuss with myself, of course

Back when I had just semiretired and was doing a little tax prep. for spending money, a former in-law asked me
if I would do his taxes. Guy was single and worked at
the post office. How hard could it be? Well, turns out
he had investments in about 6 foreign countries, with
multiple trusts, etc etc. Total gross income was only maybe 30K, but his tax returns? A real disaster.

I did ours for 2004 (4 returns) in less than an hour
(by hand). This does not include my PHC which is a bit more
complex.

JG

 

[charlie]

Hi bennevis,

If you are drawing from a taxable account then I
would have all distributions from stock and bond
funds invested in a MM fund ...... then draw from
that. You will get a statement at the end of the
year showing the amount invested in the MM
fund, but withdrawals are not tax events. Of
course if you need to draw from a stock or
bond fund, I would do it annually and put it
into the MM fund.

Cheers,

Charlie