Sharon has the following results of netting her short-term and long-term capital gains and losses for 2022:
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Question:
Sharon has the following results of netting her short-term and long-term capital gains and losses for 2022: $56,000 short-term capital loss and $82,000 net long-term capital gain ($21,000 0%/15%/20% long-term capital gain and $61,000 25% long-term capital gain).
a. What is her net capital gain or loss for 2022?
b. If there is a net capital loss, how much and what type of the loss carries over to 2023?
c. If there is a net long-term capital gain, what is it made up of?
Related Book For
South Western Federal Taxation 2023 Comprehensive Volume
ISBN: 9780357719688
46th Edition
Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young
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