In 2013,Estes has net short-term capital losses of $3,000,a net long-term capital loss of $45,000,and taxable income from wages of $35,000.
a.Calculate the amount of Estes' deduction for capital losses for 2013.
b.Calculate the amount and nature short-term or long-term)of his capital loss carryforward.
c.For how many years may Estes carry the unused loss forward?

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The Answer of In 2013,Estes has net short-term capital losses of $3,000,a net long-term capital loss of $45,000,and taxable income from wages of $35,000.
a.Calculate the amount of Estes' deduction for capital losses for 2013.
b.Calculate the amount and nature short-term or long-term)of his capital loss carryforward.
c.For how many years may Estes carry the unused loss forward?

In 2013,Estes Has Net Short-Term Capital Losses of $3,000,a Net