A simple trust had a long-term capital loss of $10,000 for 2014 and a long-term capital gain

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A simple trust had a long-term capital loss of $10,000 for 2014 and a long-term capital gain of $15,000 for 2015. Its net accounting income and DNI are equal. Explain the tax treatment for the 2014 capital loss assuming the trust is in existence at the end of 2016.
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Federal Taxation 2016 Comprehensive

ISBN: 9780134104379

29th Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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