Do I qualify for long term capital gains?

1 Reply

Hi all,

Hypothetically if I purchased a rental property on 8/27/17 and sold on 8/27/18; is that considered 366 days of ownership thus qualifying me for long term cap gains?

Thanks!

Originally posted by @Jay Y. :

Hi all,

Hypothetically if I purchased a rental property on 8/27/17 and sold on 8/27/18; is that considered 366 days of ownership thus qualifying me for long term cap gains?

Thanks!

 Jay, you have to exclude acquition date, but include the disposition date. 

So it starts on 8/28/17, if you sell on 8/27/18, it’s a short term. 

If sold on 8/28, it’s a long term.