Question
Your client brings you the following information for the past three years: Year one: a short-term capital gain of $1,000, a short-term capital loss of
Your client brings you the following information for the past three years: Year one: a short-term capital gain of $1,000, a short-term capital loss of $1,500, a long-term capital gain of $700, and a long-term capital loss of $4,000. Year 2: a short-term capital gain of $1,000, a short-term capital loss of $900, a long-term capital gain of $100, and a long-term capital loss of $3,300. Year 3: a short-term capital gain of $900, a short-term capital loss of $200, a long-term capital gain of $100, and a long-term capital loss of $1,000. Calculate the amount and type of capital gain or loss for each year, identifying any carryover.
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