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Question - Haneen has taxable income of $122,500 without consideration of capital gain or loss transactions. She has a short-term capital gain of $21,400, a long-term capital loss of $9,550, and a short-term capital gain of $4,400. Assume no gains or losses are from collectibles or unrecaptured $ 1250 property, and Haneen is in the 24% tax bracket.
Required -
a. What is the total short-term gain or loss?
b. What is the total long-term gain or loss?
c. What is the carryover amount?
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