ataxguy
Level 1
09-30-2020
06:40 PM
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Got a scenario where the client has LTCG for CA from a stock sale and STCL from the cancellation of debt from a loan for Federal considerations (non-business bad debt). The loan agreement was over 2 years and this year the debt cancellation resulted from the insolvency of that business which was fully operating in Boston. Any weird tax considerations to consider?
Level 15
10-29-2020
11:33 AM
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none comes to mind, as long as the client has documentation. Both are put on form 8949