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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Soumen Barua who wrote (30550)	8/4/1998 6:02:00 PM
From: IceShark	Respond to of 132070

Soumen, Well, it is applicable to all entities subject to capital gains tax, I would assume (since I haven't burrowed into the proposed act). So, my point was funds don't pay capital gains taxes. If someone has a tax exempt IRA or 401 k invested in a fund (or anything else for that matter) the holding period is meaningless since current earnings and capital gains are not taxed as they occur. If you have that fund in a personal account then you will get the holding term treatment. That takes care of most of the parent institutional investors, outside of the oddballs like insurance companies, which Mikey might be able to answer if he has kept up with the Code. -g- Regards, DWW