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In 2020, Rosalva sold stock considered short-term for a gain of $1,155 and stock considered long-term for a loss of $3,850. She also had a
In 2020, Rosalva sold stock considered short-term for a gain of $1,155 and stock considered long-term for a loss of $3,850. She also had a $3,370 short-term loss carryover from 2019 and a $1,365 long-term loss carryover from 2019. Required: a. 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? a. b. C. Maximum loss deductible in 2020 Amount of long-term carryover to 2021 d
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