During 2021, Hughes Corporation sold a portfolio of stock it had held for five years at...
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During 2021, Hughes Corporation sold a portfolio of stock it had held for five years at a loss of $200,000. It also sold some investment land and recognized a capital gain of $180,000. In 2019, Hughes reported a net capital gain of $12,000 and in 2020 it recognized a net capital gain of $6,000. What is the amount of its net capital loss carryover to 2022? During 2021, Hughes Corporation sold a portfolio of stock it had held for five years at a loss of $200,000. It also sold some investment land and recognized a capital gain of $180,000. In 2019, Hughes reported a net capital gain of $12,000 and in 2020 it recognized a net capital gain of $6,000. What is the amount of its net capital loss carryover to 2022?
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Answer the capital losses of last three 2019 2020 can be set off with c... View the full answer
Related Book For
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
Posted Date:
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