In 2018 Rosalva sold stock considered short-term for a gain of $1,060 and stock considered long-term for a loss of $2,376. She also had a $3,000 short-term loss carryover from 2017 and a $1,420 long-term loss carryover from 2016.
What amount will be shown as a short-term gain (loss) for 2018?
What amount will be shown as a long-term gain (loss) for 2018?
How much of the loss is deductible in 2018?
What is the amount of long-term carryover to 2019?
In 2018 Rosalva sold stock considered short-term for a gain of $1,060 and stock considered long-term...
Carrot Corporation, a C corporation, has a net short-term capital gain of $240,000 and a net long-term capital loss of $230,000 during 2018. Carrot Corporation had taxable income from other sources of $720,000 during 2018. Carrot corporation had the following gains and losses during the years it had been in existence: 2014 Net long-term capital loss $30,000 2015 Net short-term capital gain 45,000 2016 Net short-term capital loss 100,000 2017 Net long-term capital gain 15,000 Compute the amount of Carrot’s...
Calculator Carrot Corporation, a corporation, as amet short term capital gain f $65.000 and a net long-term capital loss of $250.000 during 2019. Carrot Corporation had taxable income from other sources of $720,000. Prior years transactions induded the following: 2015 2016 Net long-term capital gain Net short term capital gain Net short-term captalgan Net long-term capital gain $150,000 60,000 45,000 2012 2018 Compute the amount of Carret's capital loss carryover to 2020. a. $32,000 b. 50 c. $45,000 8. $185.000...
1. Bear Corporation has net short-term capital gains of $45,000 and net long-term capital losses of $285,000 during 2019. Bear Corporation had taxable income from other sources (not capital gains or losses) of $700,000. Prior years' transactions included the following (in each of these prior years taxable income was in excess of $1 million): 2015 2016 2017 2018 Net short-term capital gains Net long-term capital gains Net short-term capital gains Net long-term capital gains $150,000 $60,000 $45,000 $105,000 The amount...
The Nelsons sold the following assets during this year: a. 4/4/2018 sold for $20,000 stock in York Co. that was purchased for $11,500, on 2/14/2009 Exam 2 – Take Home b. 7/1/2018 200 shares of New Co. for $32,000 total that were purchased on 8/7/2017 for $13,500. c. 7/15/2018 150 shares of City Co for $12,000 total that were purchased for $13,250 on 1/18/2018 d. 8/5/2018 sold for $27,000 an antique necklace that Jeannie inherited from her great-aunt on January...
in 2018 logan had taxable income of $100000. this included short term capital losses of $1000 and long term capital losses of $10000. he had no other capital transactions in prior years. what is his capital loss carryover for 2019
Problem 7-49 (LO 7-2) [The following information applies to the questions displayed below] For 2016, Sherri has a short-term loss of $2,870 and a long-term loss of $7.200. Problem 7-49 Part-b b. How much loss will Shericarryover to 2017. and what is the character of the loss carryover? Problem 7-49 (LO 7-2) [The following information applies to the questions displayed below] For 2016, Sherri has a short-term loss of $2,870 and a long-term loss of $7.200. Problem 7-49 Part-b b....
In 2017, Jordan had a taxable income of $100000. This amount included short term capital losses of $1000 and long term losses of $10000. He had no other capital transactions in prior years. What is Jordan's capital loss carryover to 2018?
Coline has the following capital gain and loss transactions for 2018. a. Short-term capital gain b. Short-term capital loss Long-term capital gain (28%) Long-term capital gain (15%) Long-term capital loss (28%) $10,700 4,494) 12,840 4,280 (22,470) d. After the netting process, Coline has an overall net short-term capital gain of $ 4,151 X
Sarah sold the below property during 2019. None of the property was sold to a related party or in a wash sale. Apart from any capital gains or losses, Sarah's only other taxable income in 2019 is $10,000, all of which is from wages (ordinary income). Property Adjusted Basis Amount Realized Sale of personal-use car held 2 years $18,000 $12,000 Stock F held for 6 months $5,000 $3,000 Stock G held for 3 months $6,000 $3,000 Stock H held for...
Janay Lewis has the following capital gain and loss transactions for 2019. Short-term capital gain $150,000 Short-term capital loss (360,000) Long-term capital gain (28%) 1,200,000 Long-term capital gain (25%) 480,000 Long-term capital gain (15%) 600,000 Long-term capital loss (28%) (450,000) Long-term capital loss (15%) (900,000) After the capital gain and loss netting process, what is the amount and character of Janay Lewis' gain or loss?