Revenue From Sale Assignment
February 18th, 2020
Jen bought 100 shares oF ABC stock at$15 a share on July 14, 2017.On August 7, 2018. She noticed that the stock had increased in value to $20 a share and decided to sell her shares. Jen’s marginal tax rate is 22%. How is the revenue from the sale treated on her 2018 income tax return?
A)her AGI will increase by $2000 and this $2000 will be taxed at her regular marginal tax rate 22%
B)her AGI will increase by $500 and this $500 will be taxed at her regular marginal tax rate 22%
C)her AGI will increase by $2000 and this $2000 will be taxed at A capital gain rate of 20%
D)her AGI will increase by $500 and this $500 will be taxed at A Capital gain rate of 15%. Get Finance homework help today