Business, 16.07.2020 02:01, rakanmadi87
In Year 1 Cypress, who is married but filing separately, incurred a net capital loss in the amount of $25,000. Cypress also had the following net capital gains in Year 1:
ABC stock Short-term $7,000
DEF stock Short-term 2,000
GHI stock Short-term 5,000
JKL stock Long-term 4,000
MNO stock Long-term 3,000
Total $21,000
What amount, if any, of the Year 1 capital loss will Cypress carry over to Year 2 if the Year 1 deduction is maximized?
a. $4,000
b. $1000
c. $2.500
Answers: 3
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