An individual taxpayer has the following gains and losses from property transactions. What is the effect on

Question:

An individual taxpayer has the following gains and losses from property transactions. What is the effect on the taxpayer's taxable income?
$4,000..............................Long-term capital gain
7,000.................................Long-term capital loss
10,000....................................Section 1231 gain
6,000......................................Section 1231 loss
3,000................................Short-term capital gain
6,000.................................Short-term capital loss