If a capital asset acquired August 5,2016 is sold on February 6,2017,any gain is a short-term capital gain.

Question

Quizplus · Accepted Answer

A capital asset held for less than one year is considered a short-term capital asset, and any gain from its sale is a short-term capital gain. Since the asset in question was sold within six months of its acquisition, any gain from its sale falls under the category of short-term capital gain.

If a Capital Asset Acquired August 5,2016 Is Sold on February