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In 2020. Rosalva sold stock considered short-term for a gain of $1,345 and stock considered long-term for a loss of $4,370. She also had a
In 2020. Rosalva sold stock considered short-term for a gain of $1,345 and stock considered long-term for a loss of $4,370. She also had a $3,360 short-term loss carryover from 2019 and a $1,420 long-term loss carryover from 2019. Required: 5. What amount will be shown as a short-term gain (loss) for 2020? b. What amount will be shown as a long-term gain (loss) for 2020? c. How much of the loss is deductible in 2020? d. What is the amount of long-term carryover to 2021? Maximum loss deductible in 2020 Amount of long-term carryover to 2021
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