Taxes are done

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gsabc
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Re: Taxes are done

#26 Post by gsabc » Mon Feb 02, 2009 1:15 pm

MarleysGh0st wrote:
wintergreen48 wrote:But I will still get screwed once again: I have some mutual funds (thanks to Regis) which are hitting me with double whammies: the value of those funds DROPPED about 40% over the past year, but I just got the 1099 or whatever it is, and supposedly I had something like $17,000 in dividends and capital gains; so even though I have a LOT LESS that I started out with, I will have to pay tax on those supposed dividends and gains. That bites.
You've got mutual funds that actually had capital gains distributions last year, despite the 40% drop in value? :shock:
I did, too, but it was more along the lines of $17 (without the added zeroes). I haven't looked at the holdings in detail, but I suspect that any sales gains were offset by nearly equal sales losses by the fund. It's a low turnover fund, anyway.
I just ordered chicken and an egg from Amazon. I'll let you know.

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