Item $4$

Problem $16-21($Algo$)[$LO $16-4]$

Mrs$.$ Beard recognized a $$12,430$ capital loss on the sale of corporate stock this year.

Required:

How much loss can she deduct if she had no other capital transactions this year?

How much loss can she deduct if she recognized a $$3,920$ capital gain on the sale of an antique rug and had no other capital transaction this year?

How much loss can she deduct if she recognized a $$15,750$ capital gain on the sale of investment land and had no other capital transaction this year?

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