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

question 2

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).

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Definitions:

Transfer

The act of moving assets, funds, or ownership rights from one entity to another.

Articles of Incorporation

Legal documents filed with a governmental body to legally document the creation of a corporation.

Organizational Structure

The system of hierarchy and arrangement within a company that outlines roles, responsibilities, and relationships between individuals and groups.

Types of Stock

Refers to the different categories of stock that a company issues, commonly including common stock and preferred stock.