Long-term capital gain classification distinguishes it from short-term capital gain; gains on depreciable assets treated as short-term. Long-term capital gain arises on transfer of a long-term capital asset and short-term capital gain arises on transfer of a short-term capital asset; ... Summary
Long-term capital gain classification distinguishes it from short-term capital gain; gains on depreciable assets treated as short-term.
Long-term capital gain arises on transfer of a long-term capital asset and short-term capital gain arises on transfer of a short-term capital asset; however, gain on a depreciable asset is always taxed as short-term capital gain regardless of holding period.
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