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For 2016, Sherri has a short-term loss of $2,250 and a long-term loss of $7,500....

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Accounting

For 2016, Sherri has a short-term loss of $2,250 and a long-term loss of $7,500.

a. How much loss can Sherri deduct in 2016?

Deductible loss:

b. How much loss will Sherri carryover to 2017, and what is the character of the loss carryover?

Long-term capital loss:

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