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What is taxable income considering the capital loss

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Reference no: EM132917382

Problem 1: Dorit, a single taxpayer, has a long-term capital loss of $7,000 on the sale of bonds in 2020 and no other capital gains or losses. Her taxable income without this transaction is $43,000. What is her taxable income considering this capital loss?

Option 1: $40,000
Option 2: $36,000
Option 3: $43,000
Option 4: $55,000
Option 5: Some other amount

Reference no: EM132917382

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