I own shares of the Vanguard New York Long-Term Tax-Exempt Fund (Admiral Shares)(VNYUX).
I'm wondering exactly what is tax-free about it. The link says that the "interest income" is tax-free (reading carefully, it says that at least 80% of it will be tax-free, but in practice it has been close to 100%). I assume this is what I see as dividends for the fund in my statements and transaction history on the website.
But how about capital gains? In addition to the dividends/interest income, the share price fluctuates. If I sell or exchange shares, will I have to pay capital gains (or take a capital loss)?