During the present tax year, the value of a share you purchased for $30 rose to $45. You would

Question

Quizplus · Accepted Answer

According to the information given, "You" has increased in value from $30 to $45. This represents a long-term capital gain of $15. If "You" were sold, the owner would have to pay capital gains tax on that $15 gain. Therefore, option B is the correct choice. Option A is incorrect because long-term capital gains are still taxable. Option C is incorrect because the tax liability would only apply to the capital gain of $15, not the full value of $45. Option D is incorrect because capital gains tax is only applied when the asset is sold.

During the Present Tax Year, the Value of a Share