A simple trust had a long-term capital loss of $10,000 for 2019 and a long-term capital gain
Question:
A simple trust had a long-term capital loss of $10,000 for 2019 and a long-term capital gain of $15,000 for 2020. Its net accounting income and DNI are equal. Explain the tax treatment for the 2019 capital loss assuming the trust is in existence at the end of 2021.
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A 3000 capital loss is potentially deductible on the 2019 return Because the tru...View the full answer
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Related Book For 
Federal Taxation 2021 Corporations, Partnerships, Estates & Trusts
ISBN: 9780135919460
34th Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
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