If I took a Distribution in Cash from a Mutual Fund, do I have to subtract that amount from my Cost Basis.?

Either a Capital Gain or a Dividend distribution paid by my Mutual Fund . thanks for any help -- John

No, if you got a capital gains or dividend distribution and took it out, your cost basis hasn't changed. If you left it in, you'd ADD it to your cost basis. In either case, it's taxable income to you that year.

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