In 2013, Michael has net short-term capital losses of $2,000, a net long-term capital loss of $45,000,
Question:
a. Calculate the amount of Michael's deduction for capital losses for 2013. $___________
b. Calculate the amount and nature of his capital loss carry forward. $___________
c. For how long may Michael carry forward the unused loss? ___________
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a 3000 The amount of an individual taxpayers net capital los...View the full answer
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Related Book For 
Income Tax Fundamentals 2014
ISBN: 9781285424545
32nd Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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