Question: Problem 17-34 (LO. 2) Keshara has the following net & 1231 results for each of the years shown: Tax Year Net 5 1231 Loss Net
Problem 17-34 (LO. 2) Keshara has the following net & 1231 results for each of the years shown: Tax Year Net 5 1231 Loss Net 5 1231 Gain 2015 2016 $18,000 33,000 42,000 2017 2018 $41,000 2019 30,000 2020 41,000 What would be the nature of the net gains in 2019 and 2020? If an amount is zero, enter "O". Total Net 5 1231 Gain Amount Treated as Ordinary Income Amount Treated as Long-Term Capital Gain 2019 30,000 30,000 21,000 x 0 X 2020 41,000 41,000 X
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