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Capital gains: The fund manager may sell securities in the fund for a profit, triggering a capital gains tax. The tax impact will depend on how long the fund held the shares that were sold.
Capital Gains Taxes and Mutual Funds. Mutual funds are a popular investment vehicle because of the balance they can potentially bring to your portfolio. Not everyone thinks about the potential tax ...
As a mutual fund owner, you may have to pay taxes on any income your shares generate. But how are mutual funds taxed when you sell? Being aware of your tax obligations whe you own a mutual fund can...
The capital gain that is taxed is the excess of the sale price over the cost basis of the asset. The taxpayer reduces the sale price and increases the cost basis (reducing the capital gain on which tax is due) to reflect transaction costs such as brokerage fees, certain legal fees, and the transaction tax on sales.
Basis (or cost basis), as used in United States tax law, is the original cost of property, adjusted for factors such as depreciation. When a property is sold, the taxpayer pays/(saves) taxes on a capital gain /(loss) that equals the amount realized on the sale minus the sold property's basis.
For example, if your tax return is due April 15, but that date falls on a Saturday, then your tax return due date is forwarded to the first business day following April 15, or Monday, April 17. However, if a deadline falls on a Sunday, the requirements for the exchange must be met no later than the last business day prior to the deadline date ...
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In general, ETFs are more tax efficient than mutual funds in three ways: ETFs buy and sell assets within the fund using “creation units”– meaning the fund will batch purchases and sales, and ...