Solution-Calculate his net income for tax purposes

Calculate his net income for tax purposes

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Question - On December 15, 2020, David sold 1,000 units of a mutual fund for $15,000. He bought these funds in December 2010 for $10,000. In July 2020, he was informed by the mutual fund company that his share of the fund's eligible dividend was $300 and the taxable capital gain was $500 but no cash distribution was made as it was reinvested automatically in the fund. Calculate his net income for tax purposes.

Reference no: EM132928164

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Calculate his net income for tax purposes : Question - On December 15, 2020, David sold 1,000 units of a mutual fund for $15,000. Calculate his net income for tax purposes

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Calculate his net income for tax purposes

Reference no: EM132928164

Reference no: EM132928164

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