550 days ago William Tell purchased some Apple stock for $4500. Today he sold the stock for $7500. He currently earns $150,000 year. (33% tax bracket) What taxes will he have to pay; if any? What was his gain; if any?
A.33% taxes on $7500 $4500 = $990 with a 67% gain
B.20% taxes on $7500 = $1500, with no gain because he sold the same stock
C.15% taxes on $7500 = $1,125 and 33% gain
D.$450 in taxes and 67% gain