Susco had the following items this year Gross receipts $700,000 Operating expenses 500,000 Long term capital gain 40,000 Long term capital loss (20,000) Short term capital gain 16,000 Short term capital loss (44,000) What is Suscos taxable income and does it have any carrybacks carryovers ...

Date1 Conass Reciepts 700000 500000 200000 les eupoutle oparcating CAJ Net lawade ...

Susco had the following items this year: Gross receipts $700,000 Operating expenses 500,000 Long-term capital gain 40,000

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Susco had the following items this year:

Gross receipts	$700,000
Operating expenses	500,000
Long-term capital gain	40,000
Long-term capital loss	(20,000)
Short-term capital gain	16,000
Short-term capital loss	(44,000)

What is Susco’s taxable income and does it have any carrybacks/carryovers?

Related Book For answer-question

Federal Taxation 2016 Comprehensive

ISBN: 9780134104379

29th edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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Posted Date: May 17, 2022 08:34 AM

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Susco had the following items this year: Gross receipts $700,000 Operating expenses 500,000 Long-term capital gain 40,000

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