Explain the proper treatment of T's gains and losses in each of the following situations: 

(a) T has a long-term capital gain of $4,000 and a long-term capital loss of $9,000. In addition, T has a short-term capital gain of $2,000 and a short-term capital loss of $5,000. 

(b) T has a long-term capital gain of $10,000 and a long-term capital loss of $7,000. In addition, T has a short-term capital loss of $5,000 and a short-term gain of $3,000. 

(c) T has a long-term capital gain of $6,000 and a long-term capital loss of $7,000. In addition, T has a short-term capital loss of $2,000 and a short-term gain of $3,000. 

(d) T has a long-term capital gain of $5,000 and a long-term capital loss of $7,000. In addition, T has a short-term capital loss of $2,000 and a short-term gain of $3,000

Answer rating: 100% (QA)

In each of the situations provided T has both longterm and shortterm capital gains and losses The proper treatment of gains and losses depends on the ... View the full answer