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Seamus Had $16,000 of Net Short-Term Capital Loss in 2011

question 106

Multiple Choice

Seamus had $16,000 of net short-term capital loss in 2011. In 2012, Seamus has $17,000 of long-term capital loss and $26,000 of long-term capital gain. Which of the following statements is correct?

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Definitions:

Navajo Skinwalkers

In Navajo culture, a witch or wizard believed to have the supernatural ability to transform into, possess, or disguise themselves as animals.

Haitian Vodou

A syncretic religion practiced chiefly in Haiti, incorporating elements of West African religions, Roman Catholicism, and indigenous Taino beliefs.

Worship

The act of showing reverence and adoration for a deity through rituals, prayers, or other religious practices.

Saints

Individuals recognized for their holiness, virtuous conduct, and often miraculous deeds within many religious traditions, considered capable of interceding on behalf of the faithful.

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