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Capital Gains Tax or Income Tax

3416 Views 3 Replies 3 Participants Last post by  Drewsers
Hi There,

I bought stock 6 months ago and just sold it with a nice profit.

A friend told me that it was a mistake to not hold the stock for one year bc my profit will be treated as income and taxed as such rather than taxed as a capital gain.

Is this true?
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If your an American its true. Google "short term gains" for more info.

If your Canadian, stardancer's comments are correct.
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