Question: Problem A - Three points. Here are 7 different tax situations regarding netting of capital gains and losses. Please compute the overall net gain or

 Problem A - Three points. Here are 7 different tax situations

Problem A - Three points. Here are 7 different tax situations regarding netting of capital gains and losses. Please compute the overall net gain or loss and identify it as net long-term capital gain (NLTCG), net long-term capital loss (NLTCL), net short-term capital gain (NSTCG), or net short-term capital loss (NSTCL). The first one is completed as an example, Net S (1,300) Classification NLTCL Taxpayer LTCGS LTCL S STCGS STCLS A 1,000 (2,800) 1,000 (500) B 2,800 (1,000) 500 (1,000) 10,000 (15,000) 15,000 (18,000) 0 0 (500) E 5,000 7,500 0 6,000 (6,000) (3,000) (200) (5,000) F 2,500 1,000 6,000 (750) (7,500) Problem B - Five Points. Identify these business assets as $ 1231, $ 1245, or $ 1250 property by indicating Yes or No. The first one is completed as an example. Section 1231? Section 1245? Section 1250? Yes Yes No Asset Vehicles Accounts Receivable Inventory Manufacturing Equipment Office Furniture Office Building Land Acquired Patent No

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