Question
Faith, who is single, sells the following assets during 2015: 20,000 shares of qualified small business stock at a loss of $62,000. Faith bought the
Faith, who is single, sells the following assets during 2015: 20,000 shares of qualified small business stock at a loss of $62,000. Faith bought the stock in 2010. 1,200 shares of Geelong Industries at a gain of $4,500. Faith bought the stock in 2012. An XZ10 sailboat at a loss of $3,500. Faith acquired the boat, which she used in her leisure hours, in 2011. A 1973 Holden Deluxe automobile at a gain of $3,700. Faith never used the car for business. 50 shares of Fremantle, Inc., at a gain of $1,300. Faith bought the stock in 2015 and sells it to her brother. 75 shares of Fitzroy Corporation at a loss of $300. Faith bought the stock in 2011 and sells it to her sister. Faith's net capital loss for 2015 is?
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