Capital Gains & Losses
- Capital Assets
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- Capital Losses versus Ordinary Losses
- Section 1244 Stock
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- Noncapital Assets
- Selling Business Property
- Section 1231 Gains and Losses
- Figuring Basis
- Amount Realized
- Holding Period
- Computing Capital Gains and Losses (the netting process)
- Schedule D and Form 8949
- Form 1099-B
- Capital Gains Rate Table
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- Top Tax Myths
- Per Diem Rates - IRS Publication 1542 Oct 2011 for Travel Within the Continental U.S (for employers who pay a per diem allowance to employees)
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Updated for 2011
Holding Period
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How to Determine Your Holding Period
You figure a holding period in months and fractions of months.
Beginning date of holding month:
A holding month generally begins on the day after the asset was acquired.
- For example, if you acquired an asset on May 7, the holding month begins on May 8.
- Succeeding holding months for that asset begin on the same numerical date:
- June 8, July 8, August 8, September 8, and so on.
Notice that the number of days in a preceding month does not affect the numerical beginning date (the 8th) used in a succeeding month.
Ending date of a holding month:
Generally, you use the same numerical date on which you acquired an asset as the numerical date ending a holding month in each succeeding month.
- For example, if you acquired an asset on May 7:
- The holding month would begin May 8, (one day later), however,
- The numerical date ending a holding month in each succeeding month would be:
- June 7, July 7, August 7, September 7, and so on, the same numerical date you acquired the asset.
Notice that the number of days in a preceding month does not affect the numerical date ending a holding month.
Acquiring an asset on the last day of a month:
If you acquire an asset on the last day of a month, a holding month ends on the last day of the following month, regardless of the number of days in each month.
For example, if you acquire an asset on November 30, the holding months end:
- December 31, January 31, February 28 (or 29 in a leap year), and so on.
Next:
Holding Period When the Holding Periods Begins for Certain Types of Items
- What are Capital Assets?
- Selling Investment Property
- Capital Losses and Ordinary Losses Explained
- Nine Rules for Capital Losses.
- What is Section 1244 Stock?
- Special Tax Treatment for Personal Use Property
- Property Not Classified as a Capital Asset
- Inventory, Accounts Receivable, and Notes Receivable
- Depreciable Business Property
- Form 4797, Sale of Business Property
- What is Section 1231?
- What is Basis
- Unadjusted Basis
- Adjusted Basis
- Figuring Amount Realized
- What Is Your Holding Period?
- Selling Stock
- The Netting Procedure
- Transactions Reported on Schedule D
- Form 1099-B Explained
- Transactions Reported on Schedule D
- Form 1099-B Explained
- Transactions Reported on Schedule D
- Form 1099-B Explained
- Tax Planning Opportunity for Tax Years 2008 through 2010
- Gifting Appreciated Property
- Table: Capital Gains Rates
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