Cap gains question

[Jean-David Beyer]

Derek Atkins wrote:
> 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.

Well, not exactly. There is a 1-year boundary and a 5-year boundary. 
There used to be a 270-day boundary. They change this from time to time 
in order to keep tax preparation companies in business, and taxpayers 
and voters confused.
> 
> 
>>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
> 



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