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Tax Treatment of Capital Losses) In 2017, Steven Spielberg (single) has $5,000 of net short-term capital loss and $17,000 of net long-term capital loss. In
Tax Treatment of Capital Losses) In 2017, Steven Spielberg (single) has $5,000 of net short-term capital loss and $17,000 of net long-term capital loss. In 2018, he has $2,000 of net short-term capital gain, $8,000 of net 28% long-term capital gain, and $4,000 of net 0%/15%/20% long-term capital gain. Determine the type (short-term or long-term) and amount of capital loss to be carried forward to 2018 and 2019, respectively.
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