S corp,calculating net long-term capital gain?

  • Creator
    Topic
  • December 11, 2012 at 9:34 pm #175228
    canfinishthis2013
    Participant

    Jake is a 40% shareholder of the S corp, following are the items occurred in the current year.

    Short-term capital loss from stock sale ($6,000)

    Long-term capital loss from stock sale ($4,000)

    Long-term capital gain from stock sale $15,000

    Why Jake’s share of any net long-term capital gain is $ 15,000*0.4=6,000

    Thanks a lot, if there’s any CPA buddies out there can help me.

    FAR PASSED Feb 28, 2013
    AUD Oct 27,2013
    REG Jan 7,2014
    BEC Nov 15,2013

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