I bought a stock on 1/8/2013. If I sell it @ 9:30am on 1/9/2014 and assume I make $$ on it. That's considered long term capital gain because it's on the 366th day right?
Answer :
Correct;UNLESS you sell it on 12:00pm of 1/8/2014. Long-term capital gains are the profits made when you have sold an asset that you have held for at least a year.
Visit Asktaxguru for Online tax help
No comments:
Post a Comment