I cashed out a taxable mutual fund in January. It is a long held fund. I got an activity history of all the transactions so that I can figure out an estimated tax to send in to the IRS as currently, I'm pretty close to paying what I owe via work withholding. So, I'm definitely going to owe. So, I've added up all the amounts of my purchases, all the reinvested capital gains, all the reinvested dividends as in my mind those are all purchases. That comes to about 8,000 less then what I received from the mutual fund company. So for the sake of example:
My purchases are 22,000 and I received 30,000 from my sale. So would my capital gain be 8,000 and my tax owed be 8,000 x .15 = 1,200? Or am I totally figuring this wrong? Most examples I find aren't for cashing out the whole fund just a portion of shares, so I'm a bit confused. Thanks in advance for your help.