I am looking at cashing in about 30K in mutual funds (non IRA), looking to pay off my house. Are there "rule of thumb" estimates/percentages on what I will have to in taxes? Most of the funds were bought in the 80 or 90s. I understand the IRS allows different methods for calculating the taxes on the sale.
If I proceed is there a recommended method for averaging the profit/capital gains etc?
Probably paid about 2K. So, still interested in having original question answered. Thanks.