Replies to post #5429 on Energy Resource Abundance (ERAO)

[gimmeMYcash]

My understanding is 30% for short term less than a year. 1-2yrs 20% and I wanna say 3-5 yrs 10% capital gains. Somewhere along those lines. Don't quote me on it though. I read some info awhile back. Anyone?

[stockfly]

I think you are correct ...

Capital gains and losses are classified as long-term or short-term. If you hold the asset for more than one year before you dispose of it, your capital gain or loss is long-term. If you hold it one year or less, your capital gain or loss is short-term. To determine how long you held the investment property, begin counting on the date after the day you acquired the property. The day you disposed of the property is part of your holding period.

http://www.irs.gov/taxtopics/tc409.html

[therealliontamer]

Yes, I believe it is a year...by that time NVSR will be a long ways up from here in my opinion.