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Total capital gains = long term gains + short term gains. Note that short term capital gains in mutual funds are treated as (nonqualified) ordinary income.
On your 1099 all you'll see is long term gain distributions and income distributions (which include short term gains); the income distributions are broken down into qualified and nonqualified.
Unlike stocks, where you can balance short term gains against short term losses, with fund distributions, you never see the short term gains broken out. So you cannot balance them out against capital losses.
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Note that short term capital gains in mutual funds are treated as (nonqualified) ordinary income.
On your 1099 all you'll see is long term gain distributions and income distributions (which include short term gains); the income distributions are broken down into qualified and nonqualified.
Unlike stocks, where you can balance short term gains against short term losses, with fund distributions, you never see the short term gains broken out. So you cannot balance them out against capital losses.