I plan on transferring mutual fund proceeds from different mutual fund companies into one mutual fund company.
I realize there will be tax consequences when the fund are sold. I am trying to evaluate or get an estimate, at a high level of the capital gain or loss before I do this. I am not financial savvy, so I am requesting some input.
For some funds, I have both a covered cost basis amount as well as a non covered cost basis amount.
If for a fund that that has an account value of 50k and covered cost basis of 45k and non covered cost basis of 6k would I have a capital gain of 1K ? Do I add the covered to the non covered cost basis and compare that to the account value.
I realize there are likely other tax implications but I just wish to get an approximate idea of gain or loss at this level.
Thanks for reading this.
