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Please show me the computation to the following question. 10. Shannon has a long-term capital loss of $7,000 on the sale of bonds in 2012.
Please show me the computation to the following question.
10. Shannon has a long-term capital loss of $7,000 on the sale of bonds in 2012. His taxable income without this transaction is $48,000. What is his taxable income considering this capital loss?
a. $ 55,000
b. $ 48,000
c. $ 45,000
d. $ 41,000
e. Some other amount
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