The capital gains calculation for your mutual fund shares will depend on how long you held the shares. Long-term rates are 15% for most tax brackets. Short-term rates apply tax at your regular tax rate.
You can see the calculation on Schedule D Tax worksheet. You won't be able to view the schedule/worksheets until you pay for the software.
See calculator below.
http://www.moneychimp.com/features/capgain.htm
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