Short-term capital gains, During the past tax year, Jane

Short-term capital gains

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Reference no: EM13912128

During the past tax year, Jane identified $77,600 as a non business bad debt. In that tax year, Jane had $155,200 of taxable income, of which $7,760 consisted of short-term capital gains. During the current tax year, Jane collected $15,520 of the amount she had previously identified as a bad debt.

Jane deducted an overall _______ net short-term capital loss in the past year. Therefore, Jane would have to include $_____ in gross income in the current year.

Reference no: EM13912128

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