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Calculate the effects of these events on her income

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Reference no: EM132821435

Problem - Ivy Jackson invested $2,000 on April 1, 2015, in Growth Mutual Fund sold by a major financial institution. Her investment purchased 72.788 units of the fund. On December 31, 2015, the fund allocated $96.37 of capital gains to her account. As a result, the $96.37 was reinvested in the fund to purchase 3.774 units at the market value of $25.535 per unit.

On June 30, 2016, she sold 25 of her units for a total of $718.

Ivy has asked you to calculate the effects of these events on her income for tax purposes in 2015 and 2016.

Reference no: EM132821435

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