Ellen loans Nicole $45,000 to start a hair salon. Unfortunately, the business fails in 2016 and she
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Ellen loans Nicole $45,000 to start a hair salon. Unfortunately, the business fails in 2016 and she is unable to pay back Ellen. In 2016, Ellen also had $20,000 of income from her part-time job and $15,000 of capital gain from the sale of stock. How much of the $45,000 bad debt can Ellen claim as a capital loss in 2016? \\# 12,000, con $33,000 carried forwerd 201?
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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