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Can I transfer mutual fund assets from one mutual company to another company without being charged a tax? |
I.E. transfer funds from Scudder to Janus. If this is an IRA, there's no tax due now. IRAs are only taxed when you withdraw the money. Just make sure the money gets transferred directly from Scudder to Janus without you taking control of it in the middle or then you could have tax issues if you don't send it Janus quickly enough. Yes you can ,but most do charge an transfer fee, talk to your financial coach I sounds to me like you are selling out of Scudder and buying Janus - which unless you are doing this in a traditional IRA, that is a taxable event. Unless its in a tax-deferred account like an IRA or 401k the answer is no. A transfer is considered a sale whether its between funds in the same family or otherwise, and its taxable if its in a taxable account. |
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