If you exchange funds in a mutual account, would the gain-even though you don't cash out and its invested in the exchange-be considered as income?

[Franky804]

form 1099-B had been sent for these.

[Rachel_W · Accepted solution]

Yes, when you exchange mutual funds, the gain is taxable even though you didn't actually take the cash out.

You will need to report the transactions just as they appear on your Form 1099-B.

Check out the TurboTax FAQ below for instructions on how to enter your Form 1099-B:

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