Separating time in a short stories

[chezwise]

In short stories, I see time gaps identified with asterisks. I am wondering about the correct formatting for this. I don't even know what to exactly call it, and have difficulty finding a reference to proper usage. I have also seen a lot of variety. Below is an attempt on creating a display of what I am referring to. Any suggestion would be appreciated.

Lot's of spacing (1)
The quick brown fox

***

A year later jumped over the dog.

as well as (2)
The quick brown fox

***
A year later jumped over the dog

[RSchibler]

https://www.shunn.net/format/scene_breaks/

[Dustin Adams]

For a while I was using a centered # with a blank space above and below. It really made a big separation.
Then somewhere along the line someone asked Dave and he said a single # on the left side. So that's what I do now.

[chezwise]

Thanks for the quick input, it is the little details that take a ton of time, and are very frustrating.