Author Question: One important tax rule concerning capital losses is that (Read 11 times)

abcdef9106 · **on:** Mar 29, 2022

Question 1

Emily's marginal tax rate is 28%. She will have $100,000 in taxable income before any stock transactions. If she sells stock at long-term losses totaling $2,500 , her losses will reduce her taxes by
◦ $2,500.
◦ $840.
◦ $700.
◦ No reduction, the loss is not deductible.

Question 2

One important tax rule concerning capital losses is that
◦ capital losses are always fully deductible.
◦ a maximum of $3,000 of losses in excess of capital gains can be written off against ordinary income in any one year.
◦ a maximum of $10,000 of losses in excess of capital gains can be written off against other income in any one year.
◦ capital losses are never deductible.

labrinker · **Reply #1 on:** Mar 29, 2022

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