what is considered short and long term capital gains for stock?

Question

if i make some nice profit on a stock and sell it in about 6 months..is that considered a short term gain or a long term gain? im in nyc and in the 33% tax bracket.

how much taxes i need to pay for capital gains? thx in advance.

Answer 1

long term is a year and a day
short term is a year or less
for long term you must own the security for one full year

Answer 2

Long-term gains are greater than a year.
Short-term gains are equal or less than a year.

The reason for the distinction between long-term and short-term are the income tax implications. Short-term gains are taxed at the ordinary income tax rate, just as your salary less deductions. While long-term gains have a lesser tax rate than ordinary income and short-term gains.

The tax rates for both types of gains depend on your tax bracket.
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Answer 3

To qualify as long term, you have to hold it for a year and a day, or longer.

Answer 4

take a help from some good tax consultant. not yahoo answers you can be misinformed here.

Answer 5

you are able to choose the respond to that question. you have the determination of FIFO (first in, first out) or you are able to % out particular shares....you have somewhat extra artwork to do to % out particular shares, however. study the link.