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During the 2020 Tax Year Ralph Sold the Following Assets

Question 6

Multiple Choice

During the 2020 tax year Ralph sold the following assets: 1,000 shares in ABC Ltd for $5 per share. Ralph had purchased these shares in 2016 for $3 per share. Ralph also sold 500 shares in DEF Ltd for $8 a share in April 2020. Ralph had purchased these DEF shares in 2008 for $10 a share. What is Ralph's net capital gain for the 2020 tax year?


A) $750
B) $0
C) $1,000
D) $500

Correct Answer:

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