Ralph purchased a boat for $16,000 on 1 July 2015 and sold it for $20,000 on 1

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Ralph purchased a boat for $16,000 on 1 July 2015 and sold it for $20,000 on 1 July 2019. What is the minimum assessable capital gain on the boat to be included in his tax return for 2019/2020?

a. $0

b. $2000

c. $4000

d. None of the above

Related Book For answer-question

Discrete Mathematics and Its Applications

ISBN: 978-0073383095

7th edition

Authors: Kenneth H. Rosen

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Posted Date: Apr 01, 2022 11:38 PM

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Ralph purchased a boat for $16,000 on 1 July 2015 and sold it for $20,000 on 1

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Answer Given data 1The purchasing price of boat is ... View the full answer

Discrete Mathematics and Its Applications

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