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In 20X5, James Bolton, an individual taxpayer, incurred net capital losses that amounted to $25,000. During the period from 20X1 through 20X4, Bolton had net
In 20X5, James Bolton, an individual taxpayer, incurred net capital losses that amounted to
$25,000. During the period from 20X1 through 20X4, Bolton had net capital gains of $2,000
each year. How much capital loss may Bolton carry forward to 20X6?
$22,000
$14,000
$25,000
$16,000
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