Question 35 of 75 Which of the following statements regarding the reporting of s

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Question 35 of 75 Which of the following statements regarding the reporting of sales of stock is true? O Short-term and long-term capital gains and losses are reported on Form 8949 and carried to Schedule D. O Total capital gain is computed by combining net short-term gains and losses and net long-term gains and losses O Under certain circumstances, short-term and long-term capital gains and losses may be aggregated and reported directly on Schedule D O All of these statements are true Mark for follow up

Explanation / Answer

Solution: Under certain circumstances, short-term and long-term capital gains and losses may be aggregated and reported directly on Schedule D.

Explanation: Taxpayers are required to use form 8949, Sales and Other Dispositions of Capital Assets, for reporting short- and long-term capital gains and losses from sales of stock. In previous years, taxpayers were required to schedule D to report such transactions.

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