Robin incurred the following capital transactions in 2021. Robin also reported a net long-term capital loss in
Question:
Robin incurred the following capital transactions in 2021.
Robin also reported a net long-term capital loss in 2020 of $2,000, which it could not use, and ordinary income of $13,000. What are the Federal income tax consequences in 2021 if Robin is:
a. An individual.
b. A C corporation.
c. An S corporation.
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Answer AThe 2020 capital loss is carried forward to 2021 ...View the full answer
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DIPAK BHOYE
"I am a M.sc (organic chemistry) from NMU India and also a BSc graduate from The University of NMU, india.
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Related Book For 
South-Western Federal Taxation 2022 Individual Income Taxes
ISBN: 9780357519073
45th Edition
Authors: James C. Young, Annette Nellen, William A. Raabe, Mark Persellin, William H. Hoffman
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