Harlan Lunsford wrote:
- quote -

Bingo! Thanks, Harlan. Your wisdom and perceptiveness
continue to impress -- especially for one who does not read
the NY Times.<g
Bill

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

- quote -

OR, the OP could take some extra money, put it into an
obviously failing business venture, close it up before
year's end, and therefore have a writeoff to offset those
gains.

How about that?

ChEAr$,
Harlan Lunsford, EA n LA

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

Barry Margolin wrote:
- quote -

They are, and I'm sure William knows that. But I still
chuckled at his tongue in cheek reply.

ChEAr$,
Harlan Lunsford, EA n LA

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

Barry Margolin wrote:
- quote -

Well Barry, that's what happens when an amateur such as I
offers what was intended to be a smartass sarcastic reply.
My point was that paying a large tax bill is usually the
result of having a large income, and is not a basis for
complaint. (Before I am jumped upon again, I hasten to add
that I favor having the taxes be as minimal as the law
requires.)

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

William Brenner <wbrenner[at]nospamplease.net> wrote:

- quote -

Generally the rule is that if you decline something that you
could have received, it will be taxable whether you actually
receive it or not.

Stu

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

William Brenner <wbrenner[at]nospamplease.net> wrote:

- quote -

Aren't mutual funds REQUIRED to distribute their capital
gains?

--
Barry Margolin, barmar[at]alum.mit.edu
Arlington, MA
*** PLEASE don't copy me on replies, I'll read them in the group ***

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

- quote -

The internal assets have already been sold.
Its a matter of assigning the gains to the shareholders
as required by law.

The fund could be gifted to charity before the date of
record. Then the gains would not appear.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

rick++ wrote:

- quote -

Perhaps you can decline receiving the distributions. Then you
would not have to pay any taxes on them.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

I was just looking at my mutual fund family's estimated
year-end distributions and they are quite large - like the
late 1990s again. Its been a three year bull market and most
early 200s losses have been absorbed.

I've been gradually migrating to tax-advantaged investments,
but not quick enough. Migration itself can trigger more
taxes.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >