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Hi. I've read several hundred posts but could not find exactly this question (but could have missed it).

I've owned shares in a mutual fund since 1986 and have added to it over the years. When I do sell a few shares, now and then, I have used the average cost as a basis for calculating LT capital gains. Whenever I sell, there have been at least that many shares that have been invested over 12 months ago. Now my question:

If I close the fund now, can I declare all gains to be long-term? I've put about $2000 in over the last 10 months; would that portion be consider short-term gains? Or, since I am averaging, can I declare them all LT gains? (Let's assume that the fund did great and no losses are involved ;)

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