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During the current year, Nancy had the following transactions:

  1. Short-term capital loss = (1,800)
  2. Short-term capital gain = 3,600
  3. Short-term capital loss carryover from last year = (2,200)
  4. Long-term capital gain = 7,000
  5. Long-term capital loss = (15,000)

What is the amount of her capital loss deduction for the current year, and what is the amount and character of her capital loss carryover?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M9965945

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