Question
Three years ago, I bought (a) 1,000 shares of AB company stock for $5 per share AND (b) 500 shares of ZZ stock for
Three years ago, I bought (a) 1,000 shares of AB company stock for $5 per share AND (b) 500 shares of ZZ stock for $8 per share. This year, I sold my 1,000 shares of AB for $12 per share. I also sold all 500 shares of ZZ stock for $7 per share. I am single and have taxable income of $100,000. According to the Internet reading Capital Gains, what is the dollar amount, if any, of my capital gains tax? (Show your work)
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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