Taxes and Mutual Funds and Stocks

[Jodi1980]

If I own mutual funds and some Disney stock but never cashed any of it in for cash - do I have to do anything on my taxes?

 

[Tony-NJ]

accept that you probably lost money ...

But you don't have to do anything with the mutual funds ( at least I don't) as long as you have not taken anything out.

 

[Zurg]

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[JimB.]

If you own stock, there are no tax implications until the stock is sold.

If you own mutuals funds that are NOT in a tax-deferred retirement account (IRA, Roth, 401k, SEP, SARSEP, etc...), then you WILL have to pay tax on any dividends or capital gains reported to you by the fund company, whether the fund is worth more or less $$/share.

Your end of year statement from your mutual funds will tell you whether or not any gains/dividends are being posted.

 

[Jodi1980]

So no for a ROTH IRa?

 

[Dan Murphy]

What Jim said, except in a qualified account, such as any IRA, 401(k), profite sharing, pension.