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Leslie Swift, a taxpayer in the less than 15 percent tax bracket, purchased stock as...

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Accounting

Leslie Swift, a taxpayer in the less than 15 percent tax bracket, purchased stock as an investment on July 11th of last year. She sold the stock on July 9th of this year, 2 days before qualifying for the long-term holding period. If Leslie had waited until July 12th of this year to sell the stock, she would have qualified for the 0 percent tax rate. Instead, the sale will now be taxed at ordinary rates. Upon realizing this, Leslie has told you that she will fudge the sale date to July 12. She says to you, Whats the big deal? Its just 2 days.

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