Withdrawing half that is invested in a mutual fund. What should I expect to pay in penalties, taxes, fees?

I have $14,000 invested in Amerprise Financial. I'd like to "withdraw" (I don't know if that's the right terminology) about $6,500 to pay off a ridiculously high-interest credit card. What should I anticipate in this process as far as fees, taxes, etc?

You will have to pay capital gains taxes, if you have any gains. Capital gain (current price - the price you paid) will be taxed as short term, less than one year hold time, or long term over one year hold time. Short term is taxed as normal income (so it will be you income tax rate) and long term will probably be 15%, that is if you are above the 15% income tax bracket.

There should be no fee from the broker to sell, but there could be a back end fee charged by the mutual fund if you have not met the minimum holding period for the fund, it depends on share class, it could be zero. It should not be more than 5% of the funds value if there is a fee.

Your broker should be able to answer most of these questions with actual numbers, I suggest you just give them a call and they can give you a better answer than you will be able to get here, after all that is what you are paying them for, so make them earn it.

Check your fund prospectus or with Ameriprise. All funds are different.

If this is in an IRA, you'll pay a 10% " penalty for withdrawal, and the amount you withdraw will also have to have tax withheld ( like your reg paycheck) and both figures will be added to tax forms next year.
If it is not in an IRA, you just " sell" $ 6500. worth your shares...money will go into your "reserve" or " core" account..then you can simply " withdraw" from there...usually on-line ...and they will send a check.