If a capital asset acquired August 5, 2015 is sold on February 6, 2016, any gain is a short-term capital gain.

Name: If a capital asset acquired August 5, 2015 is sold on February 6, 2016, any gain is a short-term capital gain.
Brand: Quizplus
Rating: 4.9 (64 reviews)

Question

Quizplus · Accepted Answer

A capital asset is considered short-term if it is held for one year or less. In this scenario, the asset was held for less than one year between the acquisition date and the sale, making any gain a short-term capital gain.

If a Capital Asset Acquired August 5, 2015 Is Sold