Question

I have a question about how to differentiate a capital gain short term from a capital gain long term. How do I know if a capital loss or gain is short- or long-term?

Answer

Regarding the difference between a capital gain short term and a capital gain long term, a short-term gain or loss occurs when you sell property that you owned for one year or less.

A long-term gain or loss involves property you’ve held for longer than one year.

Related Topics

Related Resources

Double Taxed Income From Multiple State Living

If you report income earned in a nonresident state on your resident and nonresident return, will you be double-taxed? Learn more from the tax experts

Reporting 401K Rollover Into IRA

Learn more about rolling your 401K into an IRA with help from the tax experts at H&R Block.

Filing a Dependent’s Tax Return

Do you have a dependent child who’s wondering how to file a dependent tax return? Learn more about dependent tax filing with the experts at H&R Block.

Taxable And Tax Free Sources Of Income

Learn about the different sources of income and determine which ones are taxable and which are tax free from the experts at H&R Block.