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May 17, 2019, 2:11 p.m. EDT

What will my tax hit be if I sell mutual funds?

Your child can inherit, but there are some factors

By Dan Moisand


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Q.: I have some mutual funds which my husband is against. He fears any risk. My daughter’s name is on them with me. I am 73 and wondering about withdrawing them before I get too old. If they are withdrawn, they will go into a regular bank account. If I die before I withdraw them, how would they affect my daughter tax wise?

— JB

Dan Moisand is a principal at Moisand Fitzgerald Tamayo, LLC in Melbourne and Orlando, Fla. He is a happily married father of two, a past national President of the Financial Planning Association, has been featured as one of America’s top financial planners by at least 10 financial planning publications.

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