Juan's investment portfolio was valued at $125,640 at the beginning of the year. During the year, Juan received $603 in interest income and $298 in dividend income
Juan also sold shares of stock and realized $1,459 in capital gains. Juan's portfolio is valued at $142,608 at the end of the year. All income and realized gains were reinvested. No funds were contributed or withdrawn during the year. What is the amount of income Juan must declare this year for income tax purposes?
A) $0
B) $901
C) $2,360
D) $19,328
Answer: C
You might also like to view...
The concept of the Third-Party Beneficiary Test was established by which court case?
a. Credit Alliance Corp. v. Arthur Andersen & Co.. b. Ultramares Corp. v. Touche. c. Citizens State Bank v. Timm, Schmidt, & Co.. d. Rosenblum v. Adler.
On a bank reconciliation, outstanding checks are deducted from the balance per books
Indicate whether the statement is true or false
A positive net present value of a long-term asset under consideration for purchase indicates that the asset should probably be purchased
Indicate whether the statement is true or false
Which is true?
A. Service desk analysts are more productive in a dimly lit work area, as the levels of stress decrease. B. A 2012 wellness study found that only 25% of responding customer service representatives work in organizations that have a formal wellness initiative in place. C. Sometimes the physical layout of a service desk might be a result of how the service desk was formed, as some may have grown from small service desks, while others may be the result of mergers. D. While well-designed service desks are important for employee morale, design doesn't really enhance the service desk's productivity or improve communication.