Taxes Quizzes-Capital gain is defined to mean:

Answer to Quiz

Capital gain is defined to mean:

Answer: (c)
Capital gain is the difference between the net sales price of an asset or a security and its net cost. If an asset or stock is sold below its cost, the difference is a capital loss. A "capital improvement" is an improvement to property that adds to the value and extends the useful life of the property. "Capital stock" refers to ownership of shares in a corporation.

Next Quiz:

What is the maximum federal tax rate for long term capital gains?

(a) 34%
(b) 15%
(c) 20%
(d) 15% of the investor's tax bracket

Word of the Day

Merger Account

A "merger account" is an account where stocks can be purchased for cash and a loan....

Merger Account

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