Character of losses and an AGI calculation
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Net Gains and Losses. Need help with a and b.
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Solution Summary
The solution analyzes 7 different gain/loss problems with explanations. Then the events are summarized into a calculation for AGI
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Capital transactions:
Stewart stock: 85000 - (300,000 / 3) = 15000 loss LT (See Note 1)
IBM: 150000 - 10000 = 5000 gain LT
MSFT: 25000 - 45000 = 20000 loss LT
Tidal Radio: 32000 - 12000 = 20000 gain ST
Wavetable: 20000 - 26000 = 6000 loss ST
Loan to a former friend: 0 - 14000 = 14000 loss ST ...
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