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Mr. and Mrs. Revel had $223,600 AGI before considering capital gains and losses. Required: On May 8, they recognized an $9,750 short-term capital gain. On

Mr. and Mrs. Revel had $223,600 AGI before considering capital gains and losses.

Required:

  1. On May 8, they recognized an $9,750 short-term capital gain. On June 25, they recognized a $16,950 long-term capital loss. What is the amount and character of each carryforward?
  2. On February 11, they recognized a $2,540 long-term capital gain. On November 3, they recognized a $1,960 long-term capital loss. What is the amount and character of each carryforward?
  3. On April 2, they recognized a $5,050 long-term capital loss. On September 30, they recognized a $6,000 short-term capital loss. What is the amount and character of each carryforward?
  4. On January 12, they recognized a $6,185 short-term capital loss. On July 5, they recognized a $2,410 long-term capital gain. What is the amount and character of each carryforward?

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