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Assume the Howells' short-term capital loss carryover from prior years is $82,300 rather than $2,300 as indicated above. If this is the case, how much

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Assume the Howells' short-term capital loss carryover from prior years is $82,300 rather than $2,300 as indicated above. If this is the case, how much short-term and long-term capital loss carryovers remain to be carried beyond 2023 to future tax years? Note: Leave no cells blank - be certain to enter "0" wherever required.

image text in transcribed *No commissions are charged when no-load mutual funds are bought and sold. The Howells' broker issued them a Form 1099-B showing the sales proceeds net of the commissions paid. For example, the IBM sales proceeds were reported as $13,600 on the Form 1099-B they received. In addition to the sales reflected in the table above, the Howells provided you with the following additional information concerning 2023: - The Howells received a Form 1099-B from the Vanguard mutual fund reporting a $900 long-term capital gain distribution. This distribution was reinvested in 31 additional Vanguard mutual fund shares on 6/30/2023. - In 2017, Mrs. Howell loaned $6,000 to a friend who was starting a new multilevel marketing company called LD3. The friend declared bankruptcy in 2023, and Mrs. Howell has been notified she will not be receiving any repayment of the loan. - The Howells have a $2,300 short-term capital loss carryover and a $4,800 long-term capital loss carryove from prior years. - The Howells did not instruct their broker to sell any particular lot of IBM stock. - The Howells earned $3,000 in municipal bond interest, $3,000 in interest from corporate bonds, and $4,000 in qualified dividends. - Assume the Howells have $130,000 of wage income during the year. \begin{tabular}{|l|r|} \hline Short-term capital loss & \\ \hline Long-term capital loss & 0 \\ \hline \end{tabular} [The following information applies to the questions displayed below.] During 2023, your clients, Mr. and Mrs. Howell, owned the following investment assets: *No commissions are charged when no-load mutual funds are bought and sold. Because of the downturn in the stock market, Mr. and Mrs. Howell decided to sell most of their stocks and the mutual fund in 2023 and to reinvest in municipal bonds. The following investment assets were sold in 2023: Schedule Y-1-Married Filing Jointly or Qualifying surviving spouse \begin{tabular}{|c|c|l|} \hline If taxable income is over: & But not over: & \multicolumn{1}{c|}{ The tax is: } \\ \hline$0 & $22,000 & 10% of taxable income \\ \hline$22,000 & $89,450 & $2,200 plus 12% of the excess over $22,000 \\ \hline$89,450 & $190,750 & $10,294 plus 22% of the excess over $89,450 \\ \hline$190,750 & $364,200 & $32,580 plus 24% of the excess over $190,750 \\ \hline$364,200 & $462,500 & $74,208 plus 32\% of the excess over $364,200 \\ \hline$462,500 & $693,750 & $105,664 plus 35\% of the excess over $462,500 \\ \hline$693,750 & - & $186,601.5 plus 37\% of the excess over $693,750 \\ \hline \end{tabular}

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