Business, 08.02.2021 17:20, masonprice

In 2018, Michael has net short-term capital losses of $1,500, a net long-term capital loss of $27,000, and other ordinary taxable income of $45,000. If an amount is zero, enter "0". a. Calculate the amount of Michael's deduction for capital losses on his tax return for 2018. $ b. Calculate the amount and nature of his capital loss carryforward. $ $ c. For how long may Michael carry forward any long-term unused loss?

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In 2018, Michael has net short-term capital losses of $1,500, a net long-term capital loss of $27,00...