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Lelu [443]
3 years ago
7

Brad and Angie are married and file a joint return. For year 14, they had income from wages in the amount of $100,000 and had th

e following capital transactions to report on their income tax return: Carryover of capital losses from year 13$200,000 Loss on sale of stock purchased in March year 14, sold on October 10, year 14, and repurchased on November 2, year 1420,000 Gain on the sale of stock purchased 5 years ago and sold on March 14, year 1415,000 Gain on the sale of their personal residence (all qualifications have been met for the maximum allowable gain exclusion)675,000 Loss on the sale of their personal automobile10,000 Gain on the sale of their personal furniture5,000 Loss on the sale of investment property (land only)150,000 What is the amount of capital loss carryover to year 15
Business
1 answer:
Leona [35]3 years ago
3 0

Answer:

The amount of capital loss carryover to year 15 is 152,000

Explanation:

The working is attached with the answer please find the attached file.

The following losses cannot be claimed or considered

  • Loss on sale of stock purchased in March year 14, sold on October 10, year 14, and repurchased on November 2, year 14
  • Loss on the sale of their personal automobile

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Explanation:

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8 0
3 years ago
Financial literacy means . . .?
scZoUnD [109]

Answer:

F. C and D only

Explanation:

Financial Literacy

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8 0
3 years ago
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worty [1.4K]

Answer:

$84.100

Explanation:

At the end of March, the balance of the account Accounts Payable was $84100, because:

Beginning Balance $77.400 + Purchases on Accounts $43.700 - Payments on Accounts $37.000 = Ending Bal ance $84.100

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5 0
3 years ago
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4 years ago
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Answer:

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Explanation:

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