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How much capital loss may mmi carry forward to year

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Problem 1: In year 7, MMI Corporation incurred net capital losses that amounted to $15,000. During the period from year 1, its year of inception, through year 6, MMI had net capital gains of $1,000 each year. How much capital loss may MMI carry forward to year 8?

An individual had the following gains and losses for the year:

Short-term capital loss  $30,000
Section 1231 loss          $20,000
Long-term capital gain (unrecaptured Section 1250 at 25%)  $18,000
Collectibles gain (28% rate) $20,000
Long-term capital gain (15% rate) $15,000

Reference no: EM132828084

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