Two years ago, Sanjay purchased 2,500 units in a Canadian start-up company called Here We Go Inc. for $15,000. On October 22, 2021, he sold 1,250 shares when they hit $18.50/share and incurred a large gain. He also incurred a capital loss of $7,500 on some mutual funds that he sold earlier in the year in May 2021. His tax rate in 2021 is expected to be 43%.

How much tax will he pay on the sale of these investments?

Answer rating: 100% (QA)

First lets find out the total gain Sanjay made when he sold his shares in Here We Go Inc He sold 125... View the full answer