Question

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

Answer 1

Answer:

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