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Exam CIFC Topic 1 Question 169 Discussion
Actual exam question for IFSE Institute's CIFC exam
Question #: 169
Topic #: 1
Question #: 169
Topic #: 1
Megan purchases a treasury bill for $98,200. When it matures for $100,000, how does Megan treat the $1,800 difference?
Suggested Answer: A Vote an answer
Explanation
A treasury bill is a short-term debt instrument issued by the government at a discount from its face value and redeemed at par value at maturity. The difference between the purchase price and the face value is the interest income earned by the investor. Therefore, Megan treats the $1,800 difference as interest income for tax purposes. Interest income is fully taxable at the investor's marginal tax rate in the year it is received. Megan does not report any capital gain, dividend, or return of capital from the treasury bill.
References: Canadian Investment Funds Course, Unit 5, Section 5.2
A treasury bill is a short-term debt instrument issued by the government at a discount from its face value and redeemed at par value at maturity. The difference between the purchase price and the face value is the interest income earned by the investor. Therefore, Megan treats the $1,800 difference as interest income for tax purposes. Interest income is fully taxable at the investor's marginal tax rate in the year it is received. Megan does not report any capital gain, dividend, or return of capital from the treasury bill.
References: Canadian Investment Funds Course, Unit 5, Section 5.2
by Morton at Feb 17, 2025, 05:39 PM
Here are all the actual test exam dumps for IT exams. Most people prepare for the actual exams with our test dumps to pass their exams. So it's critical to choose and actual test pdf to succeed.
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