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

question 27

Essay

Sharon has the following results of netting her short-term and long-term capital gains and losses for 2019: $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 2019?
b.If there is a net capital loss, how much and what type of the loss carries over to 2020?
c.If there is a net long-term capital gain, what is it made up of?

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Definitions:

Neuroticism

A personality trait characterized by emotional instability, anxiety, moodiness, worry, and sadness, considered one of the five major traits in the study of personality.

Extraversion

A personality trait characterized by energy, positive emotions, and the tendency to seek stimulation in the company of others.

Fraternal Twins

Siblings born at the same time who have developed from two separate eggs fertilized by different sperm, making them genetically distinct.

Identical Twins

Genetically identical siblings, conceived from a single fertilized egg that splits into two.