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An investor in a country with an original issue discount tax provision purchases a 20-year zero-coupon bond at a deep discount to par value. The investor plans to hold the bond until the maturity date. The investor will most likely report:

A. a capital gain at maturity.

B. a tax deduction in the year the bond is purchased.

C. taxable income from the bond every year until maturity.

解答：C is correct.

The original issue discount tax provision requires the investor to include a prorated portion of the original issue discount in his taxable income every tax year until maturity. The original issue discount is equal to the difference between the bond’s par value and its original issue price.


解題思路：

這里考的是零息債券的稅收處理方式。零息債券是折價(jià)發(fā)行的，因此債券面值大于債券價(jià)格。在original issue discount（OID）的稅收條款下，要求債券面值與價(jià)格之差分?jǐn)傇诟髌冢曌鱥nterest income，所以零息債券的持有人需繳納income tax。在債券到期時(shí)，因?yàn)槊嬷蹬c價(jià)格之差在之前各期攤銷(xiāo)完了，所以這樣的債券到期時(shí)沒(méi)有capital gain。

易錯(cuò)點(diǎn)：

錯(cuò)誤集中在A(yíng)選項(xiàng)，說(shuō)明學(xué)習(xí)時(shí)忽略了original issue discount tax provision這個(gè)知識(shí)點(diǎn)。這道題也可以當(dāng)作結(jié)論來(lái)記。