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What is the appropriate tax treatment

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Question - In 2006, bill had a $14000 net st capital loss and deducted $3000 as a capital loss deduction. in 2007, bill has a $18000 5%/15% ltcg and no other cg or loss transactions. What is the net result of these gains and losses for 2007? What is the appropriate tax treatment (capital gain/loss treatment or treatment as ordinary income)? Why?

Reference no: EM131663314

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