Paul has the following long-term capital gains and losses for 2017: $62,000 28% gain, $21,000 28% loss,

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Paul has the following long-term capital gains and losses for 2017: $62,000 28% gain, $21,000 28% loss, $18,000 25% gain, and $64,000 0%/15%/20% gain. He also has a $53,000 short-term loss and a $5,000 short-term gain. What is Paul’s AGI from these transactions? If he has a net long-term capital gain, what is its makeup in terms of the alternative tax rates? 

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South-Western Federal Taxation 2018 Comprehensive

ISBN: 9781337386005

41st Edition

Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young

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