For 2015, Sherri has a short-term loss of $2,960 and a long-term loss of $4,800.

1.How much loss can Sherri deduct in 2015

2.How much loss will Sherri carryover to 2016, and what is the character of the loss carryover? Rich and Shauna Nielson file a joint tax return, and they itemize deductions. Assume their marginal tax rate on ordinary income is 25 percent. The Nielsons incur $2,100 in miscellaneous itemized deductions, excluding investment expenses. They also incur $1,500 in noninterest investment expenses during the year. What tax savings do they receive from the investment expenses under the following assumptions:

1. Their AGI is $85,000. Tax savings from investment expenses _________

2.Their AGI is $116,000. Tax savings from investment expenses________

For 2015, Sherri has a short-term loss of $2,460 and a long-term loss of $6,000.

a.	How much loss can Sherri deduct in 2015?