Erin had the following capital gains (losses) from the sale of her investments: $2,000 LTCG, $25,000 STCG,
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Question:
Erin had the following capital gains (losses) from the sale of her investments: $2,000 LTCG, $25,000 STCG, ($9,000) LTCL, and ($15,000) STCL. What is the amount and nature of Erin's capital gains and losses?
A. $3,000 net short-term capital gain.
B. $3,000 net long-term capital loss.
C. $4,000 net short-term capital gain.
D. $4,000 net long-term capital loss.
E. None of the choices are correct.
Related Book For
Fundamentals of Taxation 2015
ISBN: 9781259293092
8th edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
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