Stupid investing question, but I'm trying to get my emergency ducks in a row...
I've got a taxable brokerage account with a combination of short and long term investments. It's relatively new, so I've never sold investments in it. What happens when selling some shares one of those funds? Is it pro-rated between short and long-term for capital gains purposes?
Edit: found my answer on Fidelity's website. First in, first out.