The Freedom Fund is a stock portfolio that my wife and I started up in May 2016. Other than our Retirement portfolio (part of our 401k), the majority of our savings goes into the Empire portfolio – a stock portfolio that we have created for our descendants.
We decided that we need to do a bit more for ourselves so we are beginning to set aside some money in other portfolios, including the Freedom Fund. While the Retirement and Empire portfolios are strictly focused on dividend growth investing, the Freedom Fund will be a mix of dividend, growth and pure speculation, it will also be holding any type of loans and investment movements. You can find a สมัครสินเชื่อบุคคล ซิตี้แบงค์ to start working with your holdings and transactions you need.
If you hold shares in a taxable account, you are required to pay taxes on mutual fund distributions, whether the distributions are paid out in cash or reinvested in additional shares. The funds report distributions to shareholders on IRS Form 1099-DIV after the end of each calendar year.
For any time during the year you bought or sold shares in a mutual fund, you must report the transaction on your tax return and pay tax on any gains and dividends. Additionally, as an owner of the shares in the fund, you must report and potentially pay taxes on transactions conducted by the fund, that is, whenever the fund sells securities, this is why the filing your tax return is so important.
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If you move between mutual funds at the same company, it may not feel like you received your money back and then reinvested it; however, the transactions are treated like any other sales and purchases, and so you must report them and pay taxes on any gains.
For federal tax purposes, ordinary income is generally taxed at higher rates than qualified dividends and long-term capital gains. The chart below illustrates how each type of mutual fund income is taxed.
This page will provide a near real-time picture of our current holdings. Any new transactions will be updated same-day and I also plan on writing a monthly update of all of my non-dividend growth portfolios and help you understand the financial world and how to learn to improve your Business Finance strategy.
Freedom Fund
Portfolio Info:
- Goal: Aggressive growth
- Monthly contributions: At least $200/mo
- Brokers used: Loyal3, TradeKing, Robinhood
