If anyone has Mutual Funds in any Non Qualified (i.e. non tax deferred accounts) like a regular brokerage account or wrap account, please make sure you talk to your advisor. This year is another crazy year, even though most people have seen a huge loss in their funds and accounts, due to all of the redemptions called against these funds, a lot of fund managers have been selling out stock they have held for years and have done well and are realizing capital gains. By the nature of Mutual Funds they pass these gains on to you. So it is quite possible that you could have a large loss and also be stuck with a tax bill. I have seen Cap Gains reporting from 0.50% up to 20.00%. This doesn't affect people that are in 401(k)s, IRAs, Roths or other Qualified (Tax Deferred) accounts. Call your advisor if you think you might affected.
