The gain or loss on an asset purchased on March 31,2015,and sold on March 31,2016,is classified as short-term.

Name: The gain or loss on an asset purchased on March 31,2015,and sold on March 31,2016,is classified as short-term.
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The holding period for a short-term gain or loss is one year or less. In this case, the asset was held for one year (from March 31, 2015 to March 31, 2016), so any gain or loss would be classified as short-term.

The Gain or Loss on an Asset Purchased on March