Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.1 6/24/83 v7 ucbtopaz-1.8; site ucbtopaz.CC.Berkeley.ARPA Path: utzoo!watmath!clyde!burl!ulysses!mhuxj!houxm!vax135!cornell!uw-beaver!tektronix!hplabs!oliveb!ios!qubix!sun!decwrl!decvax!ucbvax!ucbtopaz!newton2 From: newton2@ucbtopaz.UUCP Newsgroups: net.invest Subject: Re: Long term gains = 6 mths - (nf) Message-ID: <556@ucbtopaz.CC.Berkeley.ARPA> Date: Wed, 19-Sep-84 11:53:49 EDT Article-I.D.: ucbtopaz.556 Posted: Wed Sep 19 11:53:49 1984 Date-Received: Tue, 25-Sep-84 21:00:49 EDT References: <52900026@trsvax.UUCP>, <752@ihuxk.UUCP> Organization: Univ. of Calif., Berkeley CA USA Lines: 10 I believe the situation with respect to property acquired before June 22, l984 is as you fear: the holding period is one year. The new 6-month holding period applies only to property acquired after that date (if indeed 22 June is the effective date- I don't remember). Tax writers take this approach frequently, often making the effective date retroactive to the date an action was agreed on in committee rather than when the law was actually passed or signed. This is to prevent an avalanche of hasty deals to take advantage of previously more generous rules. A recent example was the extention of the real estate depreciation schedule to 18 years from 15-- it applies to deals entered into somewhat earlier than the actual passage of the new law.