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In the current year, Norris, an individual, has $55,000 of ordinary income, a Net Short Term Capital Loss (NSTCL) of $9,500 and a Net Long
In the current year, Norris, an individual, has $55,000 of ordinary income, a Net Short Term Capital Loss (NSTCL) of $9,500 and a Net Long Term Capital Gain (NLTCG) of $3,300. From his capital gains and losses, Norris reports:
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