### Question
How does the law define long-term capital gain?


### Answer
Under *26 U.S.C. § 1222*, **long-term capital gain** is defined as:

> 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

#### Citation:
  - *26 U.S.C. § 1222*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter P-Capital Gains and Losses > PART III-GENERAL RULES FOR DETERMINING CAPITAL GAINS AND LOSSES**

