What amount will be shown as short-term gain

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Reference no: EM132069094

In 2016 Rosalva sold stock considered short-term for a gain of $875 and stock considered long-term for a loss of $3,400. She also had a $3,000 short-term loss carryover from 2015 and a $1,240 long-term loss carryover from 2014.

A – What amount will be shown as a short-term gain (loss) for 2016?

B – What amount will be shown as a long-term gain (loss) for 2016?

C – How much of the loss is deductible in 2016?

D – What is the amount of long-term carry over to 2017?

Reference no: EM132069094

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