Bernie has a client, Lance, who has acquired a capital asset. Lance plans to sell this rapidly appreciating property but wants to be certain of his timing to minimize the income tax on the disposition. To meet the long-term holding period for the preferential capital gains rate, what is the earliest date that Bernie should recommend the asset be sold if it was acquired on March 15, 2020?

Answer rating: 100% (QA)

In the United States to qualify for the longterm capital gains rate an asset must be held for more ... View the full answer