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In 2020, Eli, a taxpayer who is single, had taxable income of $75000. It included short term capital losses of $3000 and lonterm losses of
In 2020, Eli, a taxpayer who is single, had taxable income of $75000. It included short term capital losses of $3000 and lonterm losses of $7000. He had no capital gains in prior years. What is the amount of loss Eli can carry forward to later tax years? (2)
A $0
B $1000
C $4000
D $7000
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