Andy has gains and losses from the following transactions: Gain of $50,000 from property held...
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Accounting
Andy has gains and losses from the following transactions: Gain of $50,000 from property held for 6 months, gain of $3,000 from property held more than one year, and a loss from the sale of property held for more than one year of $45,000. Andy has been advised that he can enter into a transaction that would create $25,000 of short-term capital loss and $24,000 of long-term capital gain. Should Andy enter into the transaction? Why?
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