Cap gains question

[Derek Atkins]

Jon Lapham <lapham at extracta.com.br> writes:

> Derek Atkins wrote:
> > Also, there is the concept of Long Term and Short Term cap gains, which
> > are treated differently for tax purposes.
> 
> Good point... I'll need to deal with that.
> 
> My understanding is that in the US the cutoff is 1 year, right?

In the US, yes.

> So, short term cap gains are considered regular income in terms of
> taxes, while long term gets the cap gains tax break?

Well, this varies from place to place...

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
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