Lesson 7Question 93John and Jill Jones sold shares that resulted in a short-term capital loss...

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Accounting

Lesson 7
Question 93
John and Jill Jones sold shares that resulted in a short-term capital loss of $5,000. They had no other capital transactions during the year. His taxable income was $10,000. How much of the capital loss is deductible in your joint return, and how much should be carried forward to the next year?
A. $0 loss; $5,000 TransferB. Loss of $1,500; $1,500 TransferC. Loss of $3,000; $0 TransferD. Loss of $3,000; $2,000 Transfer

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