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algol [13]
2 years ago
8

What schedule would any gains or losses from virtual currency carry to?

Business
1 answer:
astraxan [27]2 years ago
6 0

The schedule that any gains or losses from virtual currency would carry to is schedule D.

According to the question we are to discuss the type of schedule needed in case of any gains or losses from virtual currency .

As a result of this we can see that schedule D which is useful in reporting a capital gains and losses on  taxes as well as loss in cryptocurrency by buying and selling is the best schedule.

Therefore, schedule D serves as schedule that any gains or losses from virtual currency would carry to.

Learn more about schedule at:

brainly.com/question/1306721

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Lonergan, Inc., a calendar year S corporation in Athens, Georgia, had a balance in AAA of $200,000 and AEP of $110,000 on Decemb
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                                                                      AAA                   AEP

Beginning balance, 1/1/20                           200,000        110,000

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Less: Loss (ordinary)                                  (120,000)            (0)

Ending Balance                                           (60,000)       110,000

Here AAA is adjusted first for the distributions and then for the loss. The negative balance must be restored to a positive before the shareholders may receive any distributions that will not be taxed as dividend income.

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D is correct my luv good luck
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