Tax data for each year will be mailed by Fund Services at US Bank by February 1st of the following year. This data will use the average cost per share method for tax purposes. There are other methods of computing taxes on mutual fund redemptions, so be sure to consult your CPA.
Any redemption of shares for check requests will result in a taxable event, e.g., realized capital gain or loss. The length of time a shareholder has owned the shares sold in a check request will determine if those gains or losses are short term or long term.
Withdrawals from an IRA account will generate a 1099R the next January. IRA withdrawals result in taxes owed as ordinary income, not capital gains.