Certified Financial Planner (CFP) Practice Exam · Question
An investor sells shares of ABC Corp for $15,000. They originally purchased these shares for $10,000. What amount must be included in their income for tax purposes in the current year?
The capital gain is $15,000 (proceeds) - $10,000 (adjusted cost base) = $5,000. The capital gains inclusion rate is 50%, so $5,000 * 0.50 = $2,500 must be inclu
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Question: An investor sells shares of ABC Corp for $15,000. They originally purchased these shares for $10,000. What amount must be included in their income for tax purposes in the current year?
Answer options: ✅ $2,500
- $5,000
- $7,500
- $15,000
Correct answer: $2,500
Explanation: The capital gain is $15,000 (proceeds) - $10,000 (adjusted cost base) = $5,000. The capital gains inclusion rate is 50%, so $5,000 * 0.50 = $2,500 must be included in income.
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