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17 November, 04:24

Alexis has a long-term capital loss of $13,000 on the sale of stock in the current year. She has no other capital gains or losses for the year. Her taxable income without this transaction is $60,000. What is her current year taxable income considering this capital loss?

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  1. 17 November, 04:43
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    Answer: the correct answer is $ 57000.

    Explanation: Alexis's income is $6000 an we have to deduct to our long-term capital loss up to $10000 which is $13000-$10000=$3000.

    The taxable income is $60000 - $3000 = $57000
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