Selling Mutual Fund shares

From: Scott Holloway <scott.holloway@ncogroup.com>
Subject: Selling Mutual Fund shares
Date: Mon, 30 Nov 1998 16:11:40 -0500

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Dear Persf-List,
   I apologize if this is a novice's question, but I'm still learning =
the ins and outs of mutual funds and how they are taxed.
   I recently decided to change mutual funds for my monthly dollar cost =
averaging. These 2 funds belong to the same fund family. I left the =
majority of the money in the first fund and purchased $500 worth =
(minimum required) of the second fund to start my account. I assume that =
I "sold" $500 worth of the first fund to purchase into the second fund. =
Am I correct in assuming this to be a taxable event? Will I get =
documentation from the fund family detailing this for my income taxes =
for this year? I didn't specify which shares to sell so do I take an =
average share price to figure out my gain/loss? How do I go about doing =
this? I just want to make sure I get it right the first time. Thanks for =
any help you can give me.
Scott Holloway

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