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19 1 point During the tax ycar, Taxpayer, who is unmarried, realized $54,000 of ordinary income, a net short term capital loss of $9,600, and

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19 1 point During the tax ycar, Taxpayer, who is unmarried, realized $54,000 of ordinary income, a net short term capital loss of $9,600, and a net long term capital gain of $3,200. Select the answer that best describes the treatment of the gains and losses. Taxpayer deducts capital losses of $3,000 this year and has a net short term capital loss carryforward of $6,600 to the subsequent year Taxpayer deducts capital losses $3,200 this year and has a net short-term capital loss carryforward of $6,400 to the subsequent year Taxpayer deducts capital losses of $3,000 this year and has a net short-term capital loss carryforward of $6,400 to the subsequent year Taxpayer deducts capital losses of $9.600 this year Taxpayer deducts capital losses of $3,000 and has a net short-term capital loss carryforward of $3,400 to the subsequent year 18 1 point Three years ago, Taxpayer acquired 350 shares of XYZ Corporation for $25 per share. On 20 December of year 4. Taxpayer sold the shares for $20 per sharc. On 5 January of year 5. Taxpayer purchased an additional 350 shares of XYZ Corporation at a cost of $22 per share. Determine Taxpayer's tax basis in the 350 shares of XYZ Corporation stock acquired no 5 January of year 5. Type your answer.. 17 1 point Taxpayer and Spouse are a married could filing a joint return and claiming the standard deduction. During the year, Taxpayer carned $375,000 and Spouse carned $375,000. The couple has no other income or deductions. Based upon this information, Taxpayer and Spouse realize a married benefit. True False

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