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Mr. and Mrs. Revel had $208,400 AGI before considering capital gains and losses. Required: On May 8, they recognized an $10,600 short-term capital gain. On
Mr. and Mrs. Revel had $208,400 AGI before considering capital gains and losses.
Required:
- On May 8, they recognized an $10,600 short-term capital gain. On June 25, they recognized a $15,500 long-term capital loss. What is the amount and character of each carryforward?
- On February 11, they recognized a $2,920 long-term capital gain. On November 3, they recognized a $2,280 long-term capital loss. What is the amount and character of each carryforward?
- On April 2, they recognized a $5,450 long-term capital loss. On September 30, they recognized a $5,450 short-term capital loss. What is the amount and character of each carryforward?
- On January 12, they recognized a $6,725 short-term capital loss. On July 5, they recognized a $1,575 long-term capital gain. What is the amount and character of each carryforward?
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