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Citron, a calendar year taxpayer, began business in January 2015. It had a long-term capital gain of $5,000 in 2015 and a long-term capital loss
Citron, a calendar year taxpayer, began business in January 2015. It had a long-term capital gain of $5,000 in 2015 and a long-term capital loss of $10,000 in 2016. For both years, Citron had an operating profit in excess of $100,000. How are these capital capital gain and loss tranactions handeled for income tax purposes if Citron is:
a. An Individual?
b. A C corporation?
c. An S corportation?
***** Please show all work****
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