Classification of a loss as a capital loss is based upon the length of time the asset was held.

Name: Classification of a loss as a capital loss is based upon the length of time the asset was held.
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The classification of a loss as a capital loss is based on the nature of the asset and the transaction, not the holding period. The holding period affects whether a capital gain or loss is short-term or long-term.

Classification of a Loss as a Capital Loss Is Based