Question

To better understand the rules for offsetting capital losses and how to treat capital losses carried forward analyze the following data for an unmarried individual for the period 2015 through 2019 Noc included in the figures os carryforwards are Requirement For each year, determine AGI and the capital losses to be carried forward to a later tax year (la box is not used in the table leave the box amply do not enter a trossamunta povember) 2016 45.000 AG (excluding property transactions) STCG STCL LTCO LTCL AGI (including property 10.500 8.750 6.500 STCL to be carried forward LIOL 10 bo carmed forward

Answer 1

corpunten of Most end son captas losse 445005 A ang property Ironsekte 160 (10,617 STCE (450) (6500) LTOS 8150 LTCI STCL (to be connedsenean Net Income 3250 (5500) 45.000 Note : 1.Stce can be settoff against STCG and also With LTCG but LTCL can only be sue o goinst LTCG only. 2. STCL cannot be setteff against any other soonce except the capital gains income.