Martha Has Both Long-Term and Short-Term 2014 Capital Gains and Losses.The

question 68

Multiple Choice

Martha has both long-term and short-term 2014 capital gains and losses.The result of netting these gains and losses is a net long-term capital loss.Martha has no qualified dividend income.Also,Martha's 2014 taxable income puts her in the 28% tax bracket.Which of the following is correct?

• A)Martha will use Parts I,II,and III of 2014 Form 1040 Schedule D.
• B)Martha will not benefit from the special treatment for long-term capital gains.
• C)Martha will have a capital loss deduction.
• D)All of the above.
• E)None of the above.

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Definitions:

Sentinel Value

A special value used in programming to signal the end of a loop or to mark a boundary for iteration.

For Statement

A control flow statement in programming used for iterating over a range, array, or collection.

Multi-way If-else

A control flow statement that allows for multiple paths of execution based on the evaluation of several conditions.

Algorithm

A finite sequence of well-defined instructions, typically to solve a class of problems or perform a computation.