Serena, a married filing jointly taxpayer, has the following capital gains and losses in 2023: $4,000 short-term capital gain $2,000 short-term capital loss $2,000 long-term capital gains $8,000 long-term capital loss What is the amount and nature of Serena's net capital loss carryforward into 2024? a. $1,000 long-term loss carryforward b. $3,000 long-term loss carryforward c. $4,000 long-term loss carryforward d. $6,000 long-term loss carryforward
Serena, a married filing jointly taxpayer, has the following capital gains and losses in 2023: $4,000 short-term capital gain $2,000 short-term capital loss $2,000 long-term capital gains $8,000 long-term capital loss What is the amount and nature of Serena's net capital loss carryforward into 2024? a. $1,000 long-term loss carryforward b. $3,000 long-term loss carryforward c. $4,000 long-term loss carryforward d. $6,000 long-term loss carryforward
Chapter4: Additional Income And The Qualified Business Income Deduction
Section: Chapter Questions
Problem 9MCQ: In 2019, Tim, a single taxpayer, has ordinary income of $29,000. In addition, he has $2,000 in...
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Transcribed Image Text:Serena, a married filing jointly taxpayer, has the following capital gains and losses in 2023:
$4,000 short-term capital gain
$2,000 short-term capital loss
$2,000 long-term capital gains
$8,000 long-term capital loss
What is the amount and nature of Serena's net capital loss carryforward into 2024?
a. $1,000 long-term loss carryforward
b. $3,000 long-term loss carryforward
c. $4,000 long-term loss carryforward
d. $6,000 long-term loss carryforward
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