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Since your original investment was deposited, all the earnings have been taxed, and redeposited.
The best way to determine taxability is to contact the mutual fund company. Most keep purchase records, even going back to when the shares were originally purchased. That will be your basis in the shares.
When you sell, compare your selling price to the cost basis of the shares you sell. Most mutual fund companies will treat the sale as FIFO (first in, first out) for tax gain/loss reporting.
Here's an example:
Purchase 100 shares of growbig fund @ $10, 1/1/14 $1,000
2014 dividend paid of $18, used to buy 2 shares at $9 18
2015 dividend paid of $20, used to buy 4 shares at $5 20
If you sold 102 shares at $11, your tax would be:
sale (102*11) = 1122
cost ([email protected]) - 1000
cost ([email protected]) -22
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