Solutions to Chapter 7 Problems
Sharon has salary income of $68,000, a net short-term capital gain of $15,000, and a net long-term capital loss of $24,000. What is Sharon’s adjusted gross income if she has no other income items? Solution: $65,000. Netting the $15,000 STCG with the $24,000 LTCL results in a $9,000 LTCL. ................
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