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Mr. and Mrs. Schmidt had a $4,000 short-term capital loss carryforward from a previous year and recognized the following capital gains and losses this year.
Mr. and Mrs. Schmidt had a $4,000 short-term capital loss carryforward from a previous year and recognized the following capital gains and losses this year. Short-term capital loss $ (10,000) Short-term capital gain $ 4,000 Long-term capital loss $ (45,000) Long-term capital gain $ 60,000 Their AGI before consideration of all of the gains and losses described above was $140,000. Compute their AGI and any capital loss carryforward into future years. Group of answer choices $145,000 AGI and $0 capital loss carryforward $146,000 AGI and $1,000 capital loss carryforward $149,000 AGI and $4,000 capital loss carryforward $152,000 AGI and $7,000 capital loss carryforward
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