FAQs
For your convenience, We have compiled a list of questions often asked by new clients. If your questions are not answered here or you need further information, then please contact us via e-mail or via phone at 603.382.8867 and we’ll be happy to help you. We look forward to hearing from you soon.
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For Individuals
6. I have both purchased and sold shares in a money-market mutual fund. The fund is managed so the share price is constant. All gain is reported as dividends. Do I have to report the sale of these shares?
Yes, you report the sale of your shares on Form 1040, Schedule D, Capital Gains and Losses. Generally, whenever you sell, exchange, or otherwise dispose of a capital asset, you report it on Schedule D.
If the share price were constant, you would have neither a gain nor a loss when you sell shares because you are selling the shares for the same price you purchased them.
If you actually owned shares that were later sold, the fund or the broker should have issued a Form 1099-B. There is no requirement with that form that there be gain or loss on the sale — only a sale or exchange of an investment asset and sales proceeds.
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