At Vanguard I sold a mutual fund and bought/exchanged with another mutual fund then I received Form 1099-B showing the proceeds as taxable income.

[cbareng]

I thought the transaction I was a 1031-tax exchange(?)  and thereby deferring the tax. Please share your experience.

[Coleen3 · Accepted solution]

The sale of a mutual fund or stock is never a 1031 exchange. If you sell such an investment, even to purchase a new one, it is taxable.

[Hal_Al]

I agree with TTColeen. You had some bad advice.