Answered: The software calls a security sold 02-17-18, bought 02-17-17, short-term. Why?

srfolk · ‎12-07-2019

CMS_VA_CPA · ‎12-07-2019

Probably because it is short-term.

Security was held exactly one year which is short-term. Long term is more than one year. One more day would have made it long-term.

per TaxBook "Capital gains and losses must be separated according to how long the taxpayer held or owned the property. To determine how long property has been held or owned, begin counting on the date after the day the property was acquired and include the date of disposition."

Short-term One year or less. Long-term More than one year.

View solution in original post

itonewbie · ‎12-07-2019

Scratch this. Didn't see the dates.

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Still an AllStar

Just-Lisa-Now- · ‎12-07-2019

Should have waited one more day to sell!

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

CMS_VA_CPA · ‎12-07-2019

Probably because it is short-term.

Security was held exactly one year which is short-term. Long term is more than one year. One more day would have made it long-term.

per TaxBook "Capital gains and losses must be separated according to how long the taxpayer held or owned the property. To determine how long property has been held or owned, begin counting on the date after the day the property was acquired and include the date of disposition."

Short-term One year or less. Long-term More than one year.

The software calls a security sold 02-17-18, bought 02-17-17, short-term. Why?

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