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Level 2
February 28, 2020
Question

Mutual Fund

  • February 28, 2020
  • 2 replies
  • 17 views

My sons mutual fund grew but he never recieved any payment, just lets it reinvest. does he have to declare that or only when he cashes in

    2 replies

    Critter
    Level 15
    February 28, 2020

    It is immaterial what happened to  the earnings ... if he had dividends, interest and capital gains reported on the broker's statement he will need to report it on his return if he is required to file. 

    Doc462Author
    Level 2
    February 29, 2020

    Thank you!