Sharon Has the Following Results of Netting Her Short-Term and Long-Term

question 115

Essay

Sharon has the following results of netting her short-term and long-term capital gains and losses for 2017: $56,000 short-term capital loss, and $82,000 net long-term capital gain ($21,000 0%/15%/20% long-term capital gain, and $61,000 25% long-term capital gain).
(a) What is her net capital gain or loss for 2017?
(b) If there is a net capital loss, how much of the loss and what type of loss carries over to 2018?
(c) If there is a net long-term capital gain, what is it made up of?

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Definitions:

Dysfunction

Impaired or abnormal functioning of an organ or system within the body or in behavioral contexts.

DSM-5

The Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, is a handbook used by healthcare professionals as the authoritative guide to diagnosing mental disorders.

Diagnostician

A healthcare professional skilled in identifying diseases and conditions based on symptoms and test results.

Overlap Symptoms

Symptoms that are common to more than one disease or condition, making diagnosis more challenging.