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Levart [38]
3 years ago
13

​anne and jose romero are in the 28 percent marginal federal tax bracket. two years ago they purchased 100 shares of abc stock f

or $28 per share, paying commissions of $75. last week they sold this stock for $35 per share and paid commissions of $50. how much is their taxable capital gain on this investment?
Business
1 answer:
lukranit [14]3 years ago
8 0
<span>In order to calculate capital gain, you will need to determine how much they earned on the stock and then subtract any fees. On each share of stock they made $7 ($35 selling price - $28 purchase price). Over the 100 shares they owned they made $700. If you take out the $75 and $50 stocks that would leave them with $575 worth of earnings which would be their taxable capital gains.</span>
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2 years ago
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