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Capital Gain and Loss Treatment Part 1.

Capital Gain and Loss Treatment

Part 1. Use the provided Excel spreadsheet for the Critical Thinking assignment for this week. On Worksheet 1, Assume the there are no capital loss carryforwards in each of the independent situations presented. You are to:

Calculate AGI that includes the property transactions

Determine the amount and character (short-term or long-term) of any carryforward (if any)

Part 2. On Worksheet 2, compute the tax liability given each independent situation presented. Review Concept Summary 14.4 on page 14-26 for applicable tax rates. Also review the netting process on pages 14-21 through 14-26 of the text.


Clearly identify the requirements being addressed. Show all calculations within the cells of an Excel spreadsheet. This means that you must use formulas and links so that the thought process can be examined. Make good use of comments to convey your thought process as well. No hard coding of solutions. Submit a single MS Excel file for grading.

Each scenario listed below is independent

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