During $2023,$ Chester $($a married taxpayer filing a joint return$)$ had the following transactions involving capital assets:

Gain on the sale of an arrowhead collection $($acquired as an investment at different times but all pieces have been held for more than $1$ year$)$ $$6,000$

Loss on the sale of IBM Corporation stock $($purchased $11$ months ago as an investment$)(3,500)$

Gain on the sale of a city lot $($acquired $5$ years ago as an investment$)2,000$

Question Content Area

a$.$ Indicate the tax treatment for each item.

Gain on the sale of an arrowhead collection

Loss on the sale of IBM Corporation stock

Gain on the sale of a city lot