A simple trust had a long-term capital loss of $10,000 for 2019 and a long-term capital gain

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A simple trust had a long-term capital loss of $10,000 for 2019 and a long-term capital gain of $15,000 for 2020. Its net accounting income and DNI are equal. Explain the tax treatment for the 2019 capital loss assuming the trust is in existence at the end of 2021.

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Federal Taxation 2021 Corporations, Partnerships, Estates & Trusts

ISBN: 9780135919460

34th Edition

Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse

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