Shannon has a long-term capital loss of $7,000 on the sale of bonds in 2012. Her taxable income without this transaction is $48,000. What is her taxable income considering this capital loss?(general account) a. $55,000 b. $48,000 c. $45,000 d. $41,000 e. Some other amount.

Individual Income Taxes
43rd Edition
ISBN:9780357109731
Author:Hoffman
Publisher:Hoffman
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 18DQ: During the year, Rachel earned 18,000 of interest income on private activity bonds that she had...
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Shannon has a long-term capital loss of $7,000 on the
sale of bonds in 2012. Her taxable income without this
transaction is $48,000. What is her taxable income
considering this capital loss?(general account)
a. $55,000
b. $48,000
c. $45,000
d. $41,000
e. Some other amount.
Transcribed Image Text:Shannon has a long-term capital loss of $7,000 on the sale of bonds in 2012. Her taxable income without this transaction is $48,000. What is her taxable income considering this capital loss?(general account) a. $55,000 b. $48,000 c. $45,000 d. $41,000 e. Some other amount.
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