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Unformatted text preview: 3,100 AGI 206,200 New AGI 203,200 b) Long Term Gain 2,100 Long Term Loss 1,720 Net Long Term Cap Gain 380 15% tax 57 Gain Net of Tax 323 AGI 206,200 New AGI 206,580 c) Long Term Loss 5,000 Short Term Loss 4,800 Total Capital Loss 9,800 Deductible Loss 3,000 Short Term Loss Carry Forward 1,800 Long Term Loss Carry Forward 5,000 AGI 206,200 New AGI 203,200 d) Short Term Loss 5,600 Long Term Gain 1,500 Net Short Term Cap Loss 4,100 Deductible Loss 3,000 Short Term Loss Carry Forward 1,100 AGI 206,200 New AGI 203,200 28. a) Ms. Reid can deduct the $1,100 dividend received. b) Ms. Reid can deduct the $690 interest on her certificate. c) Ms. Reid can deduct her investment expense of $3,900....
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This note was uploaded on 12/05/2011 for the course ECON 118 taught by Professor Loster during the Fall '07 term at UCSB.
- Fall '07