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somu_banerjee
Jul 15, 2012, 09:18 AM
Hi
I have another tricky question related to Mutual Funds.

1. I have transferred units of Mutual Fund A to Mutual Fund B.They belong to the same fund family.Is there anything which needs to be reported related to this transaction to IRS when preparing my return.?

I did not get the money into account,the brokerage house takes care of the transfer.
AtlantaTaxExpert
Jul 15, 2012, 01:52 PM


The transfer is considered a sale which must be reported on Schedule D.
somu_banerjee
Jul 15, 2012, 04:22 PM
Hi,

So what will be the income in this case?

1.Is it just the amount which I gained/lost?

Or

2. Is it the entire fund value?
AtlantaTaxExpert
Jul 15, 2012, 04:40 PM
The amount gained or lost.