Are earnings of mutual funds normally taxed at the fund level or the shareholder level?

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Are earnings of mutual funds normally taxed at the fund level or the shareholder level?
Mutual Funds
Mutual funds are like a pool of funds gathered by different small investors that have simalar investment perspective about returns on their investments. These funds are managed by professional investment managers who act smartly on behalf of the...
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Fundamentals of Investment Management

ISBN: 978-0078034626

10th edition

Authors: Geoffrey Hirt, Stanley Block

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