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Homework Answers
ANSWER
a)
| Original Loss | Amount Deducted Currently | Loss Carryover | |
| Section 1231 losses | $ 100,000.00 | ($42,000 x $100,000/$200,000) = $21,000 | $79,000 |
| Short-term capital losses | $ 100,000.00 | ($42,000 x $100,000/$200,000) = $21,000 | $79,000 |
b)
| Section 1231 capital losses | $ 79,000 |
| Short-term capital losses | $ 79,000 |
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