If a Stock Was Purchased in January 2004 for $1000

question 76

Multiple Choice

If a stock was purchased in January 2004 for $1000 and sold in December 2005 for $3000,what is the taxable result?

• A)Taxable capital gain of $2000
• B)Taxable capital gain of $1000
• C)Income of $2000
• D)Annual taxable gain of $500

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Definitions:

Closure

The act of bringing something to an end or conclusion.

Limit Time

refers to setting a fixed duration for a specific activity or process to be completed.

Intrapsychic Functioning

The internal mental processes and dynamics within an individual, including thoughts, emotions, and motivations.

Coping

The strategies or mechanisms individuals use to manage stress, challenges, or adversity, ranging from problem-solving to seeking social support.