21- The Uniform Capitalization Rules of Code Sec. 263A apply to businesses whose average gross receipts for the preceding 3 years exceed what amount?

$26,000,000

$5,000,000

$2,500,000

$1,000,000

22- An individual with gross income of $78,000 had the following gains and losses from capital transactions during the current year:

Loss of $11,000 on the sale of principal residence held for 5years;

Gain of $5,000 from the sale of securities held for 4years;

Loss of $9,000 on the sale of municipal bonds held for 7months;

Loss of $4,000 on the sale of a painting held for investment for 15years.

What amount of the capital loss should the individual carry forward?

$5,000

$16,000

$8,000

$19,000