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How much will be Sebastian taxable income

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Question - Sebastian borrowed $10,000 from the bank on April 1, 2020 by signing a 90-day note payable and bought 1,000 common shares in the company for $10 each. On June 30, 2020 he sold his shares for $15 each, and repaid the bank the total amount owing of $10,148 and pocketed the difference. How much will be Sebastian's taxable income for 2020?

Reference no: EM133019203

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