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Consider the four independent situations below for an unmarried individual, and analyze the effects of the capital gains and losses on the individual's AGI. (Click
Consider the four independent situations below for an unmarried individual, and analyze the effects of the capital gains and losses on the individual's AGI. (Click the icon to view the four independent cases.) Requirement For each case, determine AGI after considering the capital gains and losses. For each case, determine the net short-term capital gain (NSTCG) or net short-term capital loss (NSTCL), the net long-term capital gain (NLTCG) or net long-term capital loss (NLTCL), and then the AGI after considering the capital gains and losses. (Use a minus sign or parentheses to enter a loss.) Situation 1 Situation 2 Situation 3 Situation 4 NSTCG (NSTCL) NLTCG (NLTCL) AGI after considering capital gains and losses 1: Data Table Situation 1 Situation 2 Situation 3 Situation 4 AGI (excluding property transactions) $ 30,000 $ 50,000 $ 75,000 $ 100,000 STCG 3,000 2,500 7,500 STCL 2,000 3,000 7,500 6,500 12,500 17,500 LTCG 4,000 14,000 7,000 LTCL 3,500 3,000 15,000 2,000
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