In 2019, Paul, a single taxpayer, has taxable income of $30,000 exclusive of capital gains and losses. Paul incurred a $1,000 sh

Question

4 years ago

6

ort-term capital loss and a $4,000 long-term capital loss. What is the amount of his long-term capital loss carryover to 2019?

1 answer:

timofeeve [1] · Answer 1 · 2021-11-10T03:05:08+03:00

6 0

Answer:

Our answer is $2000

Step-by-step explanation:

Short term capital loss = $1000

Long term capital loss = $4000

Taxable Income = $30000

Long term capital loss carryover to 2019 = ($1000 + $4000) - $3000 = $2000