Replies to post #63752 on The Question and Answer Board (IHUB)

[99Dan]

I believe you need to hold it one more day.

http://www.fool.com/taxes/2005/taxes050422.htm

How to Calculate a Holding Period

To compute the holding period of property, you begin counting on the day after the date you acquired the property and stop counting on the day that you dispose of it. But you don't merely count out 365 days. Instead, you use that first day as a benchmark for each succeeding month. You then use that benchmark to determine your sale date and your ultimate holding period. If you've held the property for more than one year, your gain or loss is a long-term capital gain or loss. If, on the other hand, you've held the property one year or less, your capital gain or loss is short-term.

For example: Lorna bought 100 shares of stock on Jan. 1, 2005. To determine her holding period, she should start counting on Jan. 2, 2005. The second day of each month thereafter counts as the beginning of a new month, regardless of how many days each month contains. If she sells the property on Jan. 1, 2006, her holding period will be one year or less and she will realize a short-term capital gain or loss. If, on the other hand, she sells the property on Jan. 2, 2006, her holding period will have been one year and a day, and she will realize a long-term capital gain or loss. See how it works?

[NovoMira]

Not a dumb question, SB...I had the same question at one time and according to the tax guide the holding period for LT gains is a year and a day after the taxpayer acquires the stock., therefore...better not sell until the 14th.