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Required information [The following information opplies to the questions displayed beiaw] During 2022, your clients, Mr. and Mrs. Howell, owned the following investment assets: "No commissions ore charged when no-lood mutual funds ore bought ond sold. Becouse of the downturn in the stock market, Mr. and Mrs. Howell decided to sell most of their stocks ond the mutual fund in 2022 and to reinvest in municipal bonds. The following investment assets were sold in 2022 . Tvo commissions ore charged when no-load mutual funds are bought ond sold. The Howells' broker issued them o form 1099-B showing the soles proceeds net of the commissions poid. For example, the IBM soles proceeds were reported os $14,800 on the Form 1099 -B they received. In oddition to the sales reflected in the table obove, the Howells provided you with the following additional information conceming 2022: - The Howells received a Form 10g9-B from the Vangusrd mutual fund reporting a $900 long-term capitol gain distribution. This distribution was reinvested in 31 odditional Vanguord mutual fund shares on 6/30/2022 - In 2016, Mrs. Howell looned $7,200 to a friend who was storting a new multilevel morketing compony called LD3. The friend declored bankruptcy in 2022, and Mrs. Howell hos been notified she will not be receiving any repayment of the loon. - The Howells hove a $3,500 short-term capital loss carryover and $6,000 long-term capital lass corryover from prior years. - The Howells did not instruct their broker to sell any particular lot of IBM stock. - The Howells earned $3,600 in municipal bond interest, $3,600 in interest from corporate bonds, and $5,200 in quolified dividends. - Assume the Howells hove $160,000 of woge income during the year. c. Assume the Howells' short-term copitol loss carryover from prior years is $83,500 rather than $3,500 as indicated obove. If this is the cose, how much short-term and long-term copital loss carryover remoins to be corried beyond 2022 to future tox years? Note: Leave no cells blank - be certain to enter " 0 " wherever required. Required information [The following information opplies to the questions displayed beiaw] During 2022, your clients, Mr. and Mrs. Howell, owned the following investment assets: "No commissions ore charged when no-lood mutual funds ore bought ond sold. Becouse of the downturn in the stock market, Mr. and Mrs. Howell decided to sell most of their stocks ond the mutual fund in 2022 and to reinvest in municipal bonds. The following investment assets were sold in 2022 . Tvo commissions ore charged when no-load mutual funds are bought ond sold. The Howells' broker issued them o form 1099-B showing the soles proceeds net of the commissions poid. For example, the IBM soles proceeds were reported os $14,800 on the Form 1099 -B they received. In oddition to the sales reflected in the table obove, the Howells provided you with the following additional information conceming 2022: - The Howells received a Form 10g9-B from the Vangusrd mutual fund reporting a $900 long-term capitol gain distribution. This distribution was reinvested in 31 odditional Vanguord mutual fund shares on 6/30/2022 - In 2016, Mrs. Howell looned $7,200 to a friend who was storting a new multilevel morketing compony called LD3. The friend declored bankruptcy in 2022, and Mrs. Howell hos been notified she will not be receiving any repayment of the loon. - The Howells hove a $3,500 short-term capital loss carryover and $6,000 long-term capital lass corryover from prior years. - The Howells did not instruct their broker to sell any particular lot of IBM stock. - The Howells earned $3,600 in municipal bond interest, $3,600 in interest from corporate bonds, and $5,200 in quolified dividends. - Assume the Howells hove $160,000 of woge income during the year. c. Assume the Howells' short-term copitol loss carryover from prior years is $83,500 rather than $3,500 as indicated obove. If this is the cose, how much short-term and long-term copital loss carryover remoins to be corried beyond 2022 to future tox years? Note: Leave no cells blank - be certain to enter " 0 " wherever required