Gertie has a NSTCL of $9,000 and a NLTCG of $5,500 during the current taxable year. After gains and losses are offset, Gertie reports

Name: Gertie has a NSTCL of $9,000 and a NLTCG of $5,500 during the current taxable year. After gains and losses are offset, Gertie reports
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Question

Quizplus · Accepted Answer

Offset $9,000 NSTCL against $5,500 NLTCG to yield $3,500 NSTCL. Deduct $3,000 currently with the remaining $500 carried over as STCL to next year.

Gertie Has a NSTCL of $9,000 and a NLTCG of $5,500