Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Short term capital loss and Long Term Capital Gain California

ataxguy
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? 

0 Cheers
1 Reply 1
Terry53029
Level 11
Level 11

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