Yes, you are exactly correct if you base it on what TRP is providing. However, you are allowed to use an average price for the shares in mutual funds which includes all purchases (covered and noncovered). This applies to mutual funds only.
Also, it's somewhat rare that an investor does select a specific batch of shares to be sold. This simply means the first in, first out (FIFO) method is almost always used. In your case the there's no reason to make any specific selection of funds because the gain or loss is the same regardless of shares sold.
- Average Cost
Using the average cost, cost basis is calculated based on the average price paid for all shares held, regardless of holding period. Gains or losses are defined as short-term or long-term based on the assumption that the oldest shares are sold first, even though the average cost is the same for all shares. This method of calculating cost basis is permitted for mutual funds only and cannot be used to calculate cost basis for individual securities such as stocks and bonds. Fidelity uses the average cost method when calculating your cost basis for all mutual fund shares.
- $23.16 + $15.70 = $38.86 per share is your cost. You can use this higher number.
Keep all of your records to show how you arrived at your cost basis and gain.
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