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Haneen has taxable income of $87,500 without consideration of capital gain or loss transactions. Haneen has a short-term capital gain of $17,000, a long-term capital

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Haneen has taxable income of $87,500 without consideration of capital gain or loss transactions. Haneen has a short-term capital gain of $17,000, a long-term capital loss of $7,500, and a short-term capital gain of $7,650. Assume none of the gains or losses are from collectibles or unrecaptured 1250 property, and Haneen is in the 24% tax bracket. Required: a. What is the total short-term gain or loss? b. What is the total long-term gain or loss? c. What is the carryover amount? Total short-term gain Total short-term loss d. Is the gain or loss after netting taxed at the Ordinary or Capital rate? Ordinary rate Capital rate

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