Martha has both long-term and short-term 2018 capital gains and losses. The result of netting these gains and losses is a net long-term capital loss. Martha has no qualified dividend income. Also, Mar...
Martha has both long-term and short-term 2018 capital gains and losses. The result of netting these gains and losses is a net long-term capital loss. Martha has no qualified dividend income. Also, Martha’s 2018 taxable income puts her in the 24% tax bracket. Which of the following is correct?
| a. |
Martha will use Parts I, II, and III of 2018 Form 1040 Schedule D. |
|
| b. |
Martha will not benefit from the special treatment for long-term capital gains. |
|
| c. |
Martha will have a capital loss deduction. |
|
| d. |
All of the above. |
|
| e. |
None of the above. |
Homework Answers
Option D.All of the Above is correct
As Martha has both long-term and short-term 2018 capital gains and losses. and the result of netting these gains and losses is a net long-term capital loss. Martha has no qualified dividend income. Also, Martha’s 2018 taxable income puts her in the 24% tax bracket.
Hence she will use Parts I, II, and III of 2018 Form 1040 Schedule D,she will not benefit from the special treatment for long-term capital gains.She will able to take Capital loss Deduction
thank You !
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