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11 May, 14:19

You bought 1,000 shares of Tund Corp. stock for $60.59 per share and sold it for $82.35 per share after a few years. How will your gain or loss be treated when you file your taxes

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  1. 11 May, 16:41
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    gain will treat as capital gain at long term tax rate

    Explanation:

    given data

    bought shares = 1,000

    stock for = $60.59 per share

    sold = $82.35 per share

    solution

    as gain from sale of stocks is held for an investment purpose and it is treated as capital gain

    when stock is here held for more than year

    so gain is taxed as long term capital gain

    and when gain is less than year than gain taxed short term capital gain

    but here we have given stock for more than year

    so here gain will treat as capital gain at long term tax rate
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