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2. (10 points) During the year, Brett has the following transactions: - Short-term capital loss.... .($12,000) Short-term capital gain ...... ........10,000 Short-term capital loss carryover
2. (10 points) During the year, Brett has the following transactions: - Short-term capital loss.... .($12,000) Short-term capital gain ...... ........10,000 Short-term capital loss carryover from 3 years ago ... ....... (7,000) - Long-term capital gain (0/15/20 % basket). ........19,000 - Long-term capital loss (28% basket)...... .....(40,000) Brett files as a head of household and has taxable income of $130,000 for 2019. After netting these results, give the amount of Brett's allowable capital loss deduction for 2019 and the amount and character of any loss carryovers for 2020
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