If a stock was purchased for $3000 in January 2003 and is sold in December 2003 for $4000, what is the taxable result?
A)Capital gain of $1000 and taxable income of $500
B)Business income of $1000 and taxable amount of $1000
C)Capital gain of $1000 and taxable income of $1000
D)Capital income of $1000 and taxable capital of $500

Question

Quizplus · Accepted Answer

The Answer of If a stock was purchased for $3000 in January 2003 and is sold in December 2003 for $4000, what is the taxable result?
A)Capital gain of $1000 and taxable income of $500
B)Business income of $1000 and taxable amount of $1000
C)Capital gain of $1000 and taxable income of $1000
D)Capital income of $1000 and taxable capital of $500

If a Stock Was Purchased for $3000 in January 2003