Iris has the following results of netting her short-term and long-term capital gains and losses for...
Homework Answers
a. net capital gain or loss for 2019 = net long-term capital gain - short-term capital loss = 82,000 - 56000 = 26000
b. No net capital loss.
c. net long-term capital gain is made of :
The short term capital loss first absorbs $61000 of 25% gain
That leaves $ 5000 of 25% long term capital gain and $21,000 0%/15%/20% long-term capital gain.
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Iris has the following results of netting her short-term and
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