The first day a capital asset acquired on August 31,2016 may be sold for long-term capital gain or loss treatment is September 1,2017.

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According to the IRS, if a capital asset is held for more than one year (i.e. 366 days or more, taking into account leap years), any gain or loss from its sale is treated as a long-term capital gain or loss. Therefore, if a capital asset is acquired on August 31, 2016, the earliest date it can be sold for long-term capital gain or loss treatment is September 1, 2017.

The First Day a Capital Asset Acquired on August 31,2016