Question
Dora and Tom Shaw (file jointly) collected the following investment information for the current year: Qualified dividends on Cargill stock $4,000 Interest on City of
Dora and Tom Shaw (file jointly) collected the following investment information for the current year: Qualified dividends on Cargill stock $4,000 Interest on City of Albuquerque bonds 250 Interest on US Treasury bonds 100 Interest on a loan to Floras brother 25 Interest on a loan, proceeds used to buy the Cargill stock 200 Loss on stock sold to Floras daughter, held 9 months 75 What is the Shaw's combined investment income for the income section of Form 1040
Would you show your steps I do not think that they can claim the loss of 75$. But I'm not sure how it breaks down after that. Thank you!
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