The first day a capital asset acquired on August 31, 2015 may be sold for long-term capital gain or loss treatment is September 1, 2015.

Question

Quizplus · Accepted Answer

The holding period for a capital asset begins on the day after the asset is acquired. Therefore, the first day that an asset acquired on August 31, 2015 may be sold for long-term capital gain or loss treatment is September 1, 2015.

The First Day a Capital Asset Acquired on August 31