Shannon, a single taxpayer, has a long-term capital loss of $7,000 on the sale of bonds in 2019 and no other capital gains or losses. Her taxable income without this transaction is $47,000. What is her taxable income considering this capital loss? $40,000 $44,000 $47,000 $55,000 Some other amount

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Shannon, a single taxpayer, has a long-term capital loss of $7,000 on the sale of bonds in 2019 and no other capital gains or losses. Her taxable income without this transaction is $47,000. What is her taxable income considering this capital loss?

    1. $40,000
    2. $44,000
    3. $47,000
    4. $55,000
    5. Some other amount
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