in 2022, Helsie the boba barista had $1,500 of Section 1231 loss that offset ordinary...
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in 2022, Helsie the boba barista had $1,500 of Section 1231 loss that offset ordinary income. In 2023, Ned had $70,000 of wage income and the following gains and losses:
$7,000 long-term capital loss (LCTL)
$2,000 short-term capital loss (STCL)
$3,000 long-term capital gain (LTCG)
$4,000 short-term capital gain (STCG)
$2,000 Section 1231 loss
For 2023, what is:
a. Ned's taxable income taxed at preferential rates?
b. Ned's taxable income taxed at ordinary rates?
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