Capital gain distribution from a mutual fund


Beverly earned a $75,000 salary and recognized a $7,200 loss on the sale of corporate stock this year. Compute Beverly's AGI in each of the following independent cases.

a. Beverly had no other capital transactions this year.

b. Beverly recognized a $13,500 capital gain on the sale of mutual fund shares.

c. Beverly received a $9,500 capital gain distribution from a mutual fund and had a $3,200 capital loss carryforward from a previous year.

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Accounting Basics: Capital gain distribution from a mutual fund
Reference No:- TGS038097

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