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During 2018, William Sold the Following Capital Assets Calculate the Following:
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Question 55

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During 2018, William sold the following capital assets:  Description  DatePurchased  Date Sold  Sales Pr:  ABC Stock 0505201408032018$500123 Bond Fund 1107201702252018$2,000 Dune buggy 0612201309292018$2,400 Land held as an investment 1009200504212018$4,000\begin{array} { l c c r } { \text { Description } } & \text { DatePurchased } & \text { Date Sold } & \text { Sales Pr: } \\\text { ABC Stock } & 05 - 05 - 2014 & 08 - 03 - 2018 & \$ 500 \\123 \text { Bond Fund } & 11 - 07 - 2017 & 02 - 25 - 2018 & \$ 2,000 \\\text { Dune buggy } & 06 - 12 - 2013 & 09 - 29 - 2018 & \$ 2,400 \\\text { Land held as an investment } & 10 - 09 - 2005 & 04 - 21 - 2018 & \$ 4,000\end{array} Calculate the following:
a.Total short-term capital gain/loss realized for tax purposes
b.Total long-term capital gain/loss realized for tax purposes
c.Deductible capital gain/loss
d.The amount and nature (short-term or long-term) of his capital loss carryforward
e.Assuming that William has no capital gain or loss for 2019, how much can he deduct in 2019 and what is the amount and nature of any carryforward to 2020?

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a.$5,000 short-term loss ($2,000 − $7,00...

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