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Platinum, Inc., has determined its taxable income as $215,000 before considering the results of its capital gain or loss transactions. Platinum has a short-term
Platinum, Inc., has determined its taxable income as $215,000 before considering the results of its capital gain or loss transactions. Platinum has a short-term capital loss of $24,000, a long-term capital loss of $38,000, and a short-term capital gain of $39,000. b. What is Platinum's taxable income? What (if any) are the amount and nature of its capital loss carryover?
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