Schwab money market tax reporting (SWVXX)

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marstaton4
Posts: 150
Joined: Wed Sep 15, 2010 11:52 am

Schwab money market tax reporting (SWVXX)

Post by marstaton4 » Mon Apr 15, 2019 5:50 am

I recently purchased Schwab Value Advantage Money Fund (SWVXX) and am unclear if when I sell these shares if I will have to report each sale on my taxes like a mutual fund or if I will only receive a 1099 for the dividends? Thank you.

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Wiggums
Posts: 642
Joined: Thu Jan 31, 2019 8:02 am

Re: Schwab money market tax reporting (SWVXX)

Post by Wiggums » Mon Apr 15, 2019 5:56 am

You will receive a 1099

student
Posts: 2987
Joined: Fri Apr 03, 2015 6:58 am

Re: Schwab money market tax reporting (SWVXX)

Post by student » Mon Apr 15, 2019 6:04 am

SWVXX tries to maintain a $1 NAV. So there will be no capital gains or losses under normal circumstances. My understanding is that there is no need to report. You will pay tax on the dividend.

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