Shawn lost $15,000 on his stock investments this past year. Which is true? (5 points)
He can deduct the loss from his property taxes.
He can recover the loss through his insurance.
He can deduct the loss from his taxable income.
He has to pay an administrative fee on the loss.

Question

22-11-2021
Business

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Shawn lost $15,000 on his stock investments this past year. Which is true? (5 points)
He can deduct the loss from his property taxes.
He can recover the loss through his insurance.
He can deduct the loss from his taxable income.
He has to pay an administrative fee on the loss.

Respuesta :

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anthougo anthougo · Answer 1 · 2021-12-01T10:35:16+01:00

The TRUE statement about Shawn, who lost $15,000 on his stock investments this past year, is that C. He can deduct the loss from his taxable income.

Shawn's taxable income (capital gains) will be reduced by the amount of the investment loss. However, he can only recover $3,000 in each year while the remaining will be carried forward to subsequent years.

Shawn cannot recover the investment loss:

From his property taxes
Through his insurance
By paying an administrative fee.

Thus, the true statement is C.

Learn more: https://brainly.com/question/25122530

Shawn lost $15,000 on his stock investments this past year. Which is true? (5 points) He can deduct the loss from his property taxes. He can recover the loss through his insurance. He can deduct the loss from his taxable income. He has to pay an administrative fee on the loss.

Respuesta :

Otras preguntas

Shawn lost $15,000 on his stock investments this past year. Which is true? (5 points)
He can deduct the loss from his property taxes.
He can recover the loss through his insurance.
He can deduct the loss from his taxable income.
He has to pay an administrative fee on the loss.