[drdec]

> I do know you have to hold an asset for at least 1 yr to count it as capital gains.

That is not true. Perhaps what you mean is that capital gains on assets held less than a year are taxed at a different rate than capital gains on assets held longer than a year?

Don't mean to get pedantic but I didn't want someone to read your comment and think that they owe no taxes on short-term capital gains. (What a crazy tax incentive that would be!)