Investor Not Concerned

BY JOHN WILLIAM GALBRAITH

I found the article “A Taxing Problem” (JofA, May00, page 51) quite interesting.

I have never been too concerned about capital distributions from my mutual funds because I realize in the long run my total tax bill is based on the difference between how much I paid into the fund and the amount I receive when I finally redeem all my shares.

In the intervening time, I may have paid part of my capital gains tax on the annual distributions from the fund, but nevertheless, my total tax over the time I held that fund is based on the accumulated total I receive, less the amount of my original investment.

John Wm. Galbraith, CPA
St. Petersburg, Florida

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