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31 August, 22:38

An individual taxpayer reported the following net long-term capital gains and losses:Year Gain (loss) 1 ($5,000) 2 1,0003 4,000The amount of capital gain that the individual taxpayer should report in year 3 is:a. $4,000b. $6,000c. $2,000d. $2500

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  1. 31 August, 22:50
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    A) 4000

    Explanation:

    Long term capital losses cannot be set of against the long term capital gains of next year

    As a result an individual taxpayer should report in the

    year 3 is $4000
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