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Capital Gains and Fund Families

Q: If I change from one fund family to another, is there any way I can do it without paying a capital gains tax?

A: Not if you actually had a gain on the fund sold. You are actually selling one fund and purchasing a new fund. You have to report the sale of the fund you on schedule D, whether a gain or loss was realized.

These questions are actual inquiries submitted by taxpayers to our AARP Tax-Aide Program. The AARP Tax-Aide Program is a volunteer-run, free tax-preparation and assistance program offered to low- and middle-income taxpayers with special attention to people age 60 and older. Our volunteers are trained and IRS-certified to understand individual federal-tax issues. Our volunteers provide tax assistance as a public service and cannot guarantee the accuracy of the information provided.

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