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(Solved): Jim, an individual resident taxpayer, acquired an investment property for $340,000, plus $10,000 in ...
Jim, an individual resident taxpayer, acquired an investment property for $340,000, plus $10,000 in stamp duty on 1 July 2003. He sold it for $550,000 on the 30 June in the current tax year.
Jim’s net capital gain for the current income year is:
A. $100,000
B. $210,000
C. $200,000
D. $105,000
The profit made on the sale of an asset whose value has improved throughout the holding term is known as capital gain in economics. A car, a business, or tangible or intangible property like shares are all examples of assets.Capital gain = selling pr...