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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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