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Lisa Sizemore, a taxpayer in the 10 percent tax bracket, purchased stock as an invest- ment on July 11, 2016. She sold the stock on

Lisa Sizemore, a taxpayer in the 10 percent tax bracket, purchased stock as an invest- ment on July 11, 2016. She sold the stock on July 9, 2017, 3 days before qualifying for the long-term holding period. If Lisa had waited until July 12, 2017 to sell the stock, she would have qualified for the 0 percent capital gains tax rate. Instead, the sale will now be taxed at ordinary income rates. Upon realizing this, Lisa has told you that she will fudgethe sale date to July 12. She says to you,Whats the big deal? Its just 3 days. What would you say to Lisa?

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