long-term capital gain
Defined in 2 dictionaries — Case Law, U.S. Code
Definitions from Case Law
United States Supreme Court
gain from the sale or exchange of a capital asset held for more than 6 months.
Defined by the Supreme Court in Commissioner of Internal Revenue v. B Brown, 380 U.S. 563 (1965).
United States Code
26 U.S.C. § 1222 — for purposes of this subtitle
The term “long-term capital gain” means gain from the sale or exchange of a capital asset held for more than 1 year, if and to the extent such gain is taken into account in computing gross income.