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Motor Insurance. Other Risk Covers. Personal Finance News. Mutual Funds. However, while municipal bonds pay interest that is exempt from federal income tax, they may not be exempt from your state income tax or local income taxes. In some cases, interest paid on bonds issued by governments in your state of residence may be triple-tax-free , meaning the bonds are exempt from all income tax.
However, verify with your fund which bonds within its portfolio are tax-free and to what degree in order to avoid being caught off guard by unexpected taxation. Calculating the taxes you owe on mutual fund income and distributions can be extremely complex, even for the most seasoned investor. IRS Publication can be some help in informing you about these issues. But unless you own just a handful of shares and keep careful records, you may benefit from consulting a tax professional to ensure you are properly reporting all your investment income.
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We and our partners process data to: Actively scan device characteristics for identification. I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Part Of. Tax Basics for Investors. Tax Considerations By Account. Tax-Deferred vs. Smart Investing Strategies. Withdrawal Considerations. Mutual Funds Mutual Fund Essentials. Key Takeaways Mutual funds that create a lot of short-term capital gains—and are taxed at ordinary income not capital gains rates—can cost you.
When it comes to distributions, the difference between ordinary income and capital gains is based on how long that fund has held an individual investment within its portfolio. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.
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This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. For performance information current to the most recent month end, please contact us. Market price returns are based on the prior-day closing market price, which is the average of the midpoint bid-ask prices at 4 p.
Market price returns do not represent the returns an investor would receive if shares were traded at other times. Returns include fees and applicable loads. Since Inception returns are provided for funds with less than 10 years of history and are as of the fund's inception date. Before investing consider carefully the investment objectives, risks, and charges and expenses of the fund, including management fees, other expenses and special risks. This and other information may be found in each fund's prospectus or summary prospectus, if available.
Always read the prospectus or summary prospectus carefully before you invest or send money. Prospectuses can be obtained by contacting us. Expense Ratio — Gross Expense Ratio is the total annual operating expense before waivers or reimbursements from the fund's most recent prospectus. You should also review the fund's detailed annual fund operating expenses which are provided in the fund's prospectus.
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