For 2015, Sherri has a short-term loss of $2,960 and a long-term
loss of $4,800.
1.How much loss can Sherri deduct in 2015
2.How much loss will Sherri carryover to 2016, and what is the
character of the loss carryover?
Rich and Shauna Nielson file a joint tax return, and they
itemize deductions. Assume their marginal tax rate on ordinary
income is 25 percent. The Nielsons incur $2,100 in miscellaneous
itemized deductions, excluding investment expenses. They also incur
$1,500 in...