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Home / Questions / LO 3,8 Citron, a calendar year taxpayer, began business in January 2017. It had a long-ter...

LO 3,8 Citron, a calendar year taxpayer, began business in January 2017. It had a long-term capital gain of $5,000 in 2017 and a long-term capital loss of $10,000 in 2018. For both years, Citron had a

  1. LO 3,8 Citron, a calendar year taxpayer, began business in January 2017. It had a long-term capital gain of $5,000 in 2017 and a long-term capital loss of $10,000 in 2018. For both years, Citron had an operating profit in excess of $100,000.  How are these capital gain and loss transactions handled for income tax purposes if Citron is:

 

  1. An individual?
  2. A C Corporation?
  3. An S Corporation?

Sep 11 2020 View more View Less

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