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Short term capital loss and Long Term Capital Gain California

Level 1

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? 

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1 Comment 1
Level 14
Level 14

none comes to mind, as long as the client has documentation. Both are put on form 8949