Question: During 2 0 2 3 , Jack sold 5 0 0 shares of stock. On December 3 1 , 2 0 2 3 , he

During 2023, Jack sold 500 shares of stock. On December 31,2023, he received a capital gain distribution of $750 from his mutual fund. He owned his mutual fund shares since June 30,2022. How should Jack report the capital gain distribution on his 2023 tax return?
A.
$750 short-term capital gain.
B.
$0
C.
$750 ordinary dividend.
D.
$750 long-term capital gain.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!