yes, i am aware of the holding period necessary to be able to use capital gains rate. i left it out merely to simplify the example for non-tax folk. but if you

yes, i am aware of the holding period necessary to be able to use capital gains rate. i left it out merely to simplify the example for non-tax folk. but if you understand tax, then instead of, "the next day," my example should say, "a year and a day later."