Ed Elsewhere has the following capital gains and losses during 2018 as a result of sales of

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Ed Elsewhere has the following capital gains and losses during 2018 as a result of sales of shares of stock. What is the net effect of the gains and losses on Ed's tax return in each of the following cases?

a. STCG \(\$ 1,500\)

STCL \(\quad(\$ 2,250)\)

LTCG \(\$ 5,500\)

LTCL \(\quad(\$ 2,500)\)

b. STCG \(\$ 6,000\)

STCL \(\quad(\$ 4,500)\)

LTCG \(\$ 0\)

LTCL (\$750)

c. LTCL \((\$ 4,000)\)

LTCG \(\$ 8,500\)

STCL \(\quad(\$ 2,250)\)

STCG \(\$ 3,000\)

d. LTCG \(\$ 750\)

LTCL \(\quad(\$ 2,250)\)

STCG \(\$ 900\)

STCL (\$800)

e. LTCG \(\$ 3,500\)

LTCL \(\quad(\$ 3,000)\)

STCG \(\$ 2,000\)

STCL \(\quad(\$ 6,500)\)

f. LTCL \((\$ 4,250)\)

LTCG \(\$ 250\)

STCL \(\quad(\$ 2,500)\)

STCG \(\$ 500\)

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CCH Federal Taxation 2019 Comprehensive Topics

ISBN: 9780808049081

2019 Edition

Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback

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