I bought stock on Jan 3 2013 and want to sell it as soon as the gain is long term. My understanding is that if I sell it on Friday Jan 3 2014, it is considered short term. For long term, I have to wait until Monday Jan 6, 2014 (or later). Is that correct?
Unless you can sell it on Saturday, Jan. 4.
You have to hold an investment for _more than_ one year to qualify for long-term treatment. IRS Publication 550 gives this example:
or
Thanks. I would sell it on Saturday if the market was open but it is not so will have to wait until Monday.
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