CAPITAL GAINS DISTRIBUTIONS
Capital Gains are the profits made by a mutual fund's portfolio. They are created when a security is sold for a higher price than was paid for its purchase. Mutual funds, as registered investment companies, do not have to pay taxes on these gains. All capital gains are annually distributed to the fund's individual share holders who then become liable for the tax consequences of the mutual fund's activity. These distributions are normally made towards the end of the year. This money is taxed by the U.S. Government as a capital gain.Capital losses are not distributed annually. They are carried forward and used to offset future capital gains.
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