Based on Trompenaars's value dimensions, in which of the following cultures do managers separate their work and private lives, a
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Answer:
$3000 (capital loss deduction) , $2000 (Carryover)
Explanation:
The computation of the amount of the capital loss deduction for Year 4 and the amount of the capital loss carryover to the decedent’s estate is shown below:-
Short term capital gain = $1,400
Long Term capital loss = $6,400
Net Long term loss = $6400 - $1400 = $5,000
For the computation of short term capital gain and long term capital loss please look into the spreadsheet which has been attached.
As Mr. Smith is a single tax payer so it would claimed a deduction for long term capital loss till $3,000 in oppose to ordinary income. If any loss above $3,000 so it would be carried for indefinite period. This excess amount would be utilized by the beneficiary
