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

Holiday Bonus Taxes

Congratulations on the Bonus! Learm more about the tax rate at H&R Block - whether you receive a holiday or cash bonus, it will apply to you.

The IRS, Bitcoin, and Other Virtual Currencies | H&R Block

Have you found yourself wondering how the IRS classifies Bitcoin? Our tax pros discuss relevant IRS Bitcoin law and notices. Learn more with H&R Block.

What Is Cryptocurrency? | H&R Block

What is Cryptocurrency? Bitcoin, Litecoin, and the like leave many wondering how to classify this new form of investment. Find the answer at H&R Block.

Bitcoin, Taxes, and the Modern Entrepreneur | H&R Block

Many entrepreneurs find themselves wondering exactly how Bitcoin is taxed. Our H&R Block Tax Pros are prepared to assist self-employed filers with Bitcoin taxation.