In Year 8, a married individual taxpayer incurred net long-term capital losses that amounted to $10,000. The taxpayer had previously reported the following net long-term capital gains: Year Net capital gain
In Year 8, a married individual taxpayer incurred net long-term capital losses that amounted to $10,000. The taxpayer had previously reported the following net long-term capital gains: Year Net capital gain
Chapter20: Corporations And Parterships
Section: Chapter Questions
Problem 23CE
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Question
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In Year 8, a married individual taxpayer incurred net long-term capital losses that amounted to $10,000. The taxpayer had previously reported the following net long-term
capital gains :
Year Net capital gain
5 $2,000
6 $2,000
7 $2,000
What amount of long-term capital loss will the taxpayer carry forward to Year 9?
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$10,000
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$7,000
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$6,000
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$3,000
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