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Re: Short term vs Long term capital gains - US IRS rules

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Posted by Mark on August 14, 2002 at 18:56:46:

In Reply to: Re: Short term vs Long term capital gains - US IRS rules posted by Christian Baude on August 14, 2002 at 09:58:31:

: : What is the correct setting for the short term / long term for US IRS rules on Mutual Funds. I see there is a medium term setting. The default came as Medium term 0m-1y, Long term 6m-1yr. I'm under the impression that anything below one year is short term, anything more than one year is long term.

: : How to I reconcile the entries in the . TIA -= Chris =-

: I'm assuming BOTH medium and long term should be set to 0m-1yr. Correct?

: -= Chris =-

Hi Chris,

You are correct. For the US both the long/medium should be set to 0 months
and 1 year. This is currently the default on new installations.

At one time, when there was actually a medium term used, they used to be 18
month default for the long term. This setting may have been a leftover
from that time.

Thanks,
Mark
--
Mark Beiley

Fund Manager, portfolio management software for Windows 95/98/ME/NT/00/XP
/XP



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