capital gains changes...

[VBM]

Hi All,

sorry for the noob post here, but used to be that if you held a stock for a year, you were subject to lessor capital gains taxes. the "investment advisor" on the phone said that it's a flat 15% whenever, due to the President's tax relief initiatives, but said "don't quote me"...

is he correct?

tia
--oj.

[VBM]

for those interested...

http://moneycentral.msn.com/content/P65070.asp

stocks held less than a year are taxed as ordinary income.